Tyco Electronics (TEL) Completes Tender Offer to Acquire ADC Telecommunications (ADCT)
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Tyco Electronics Ltd. (NYSE: TEL) has successful completed its tender offer through its subsidiary, Tyco Electronics Minnesota, Inc., to purchase the outstanding shares of common stock of ADC Telecommunications, Inc. (Nasdaq: ADCT). The tender offer expired at 5:00 p.m., New York City time on Wednesday, Dec. 8, 2010, and was not extended.
The depositary for the tender offer has advised Tyco Electronics that, as of the expiration of the offering period, a total of approximately 84,333,859 common shares of ADC were validly tendered and not withdrawn (not including approximately 4,794,355 shares subject to guaranteed delivery procedures), representing 86.80% of the outstanding ADC common shares. All shares that were validly tendered and not withdrawn during the initial offering period have been accepted for payment.
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The depositary for the tender offer has advised Tyco Electronics that, as of the expiration of the offering period, a total of approximately 84,333,859 common shares of ADC were validly tendered and not withdrawn (not including approximately 4,794,355 shares subject to guaranteed delivery procedures), representing 86.80% of the outstanding ADC common shares. All shares that were validly tendered and not withdrawn during the initial offering period have been accepted for payment.
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