Thomas & Betts (TNB) Peers Could See Action After $3.9B Takeover
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Price: $71.99 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Electrical equipment peers of Thomas & Betts (NYSE: TNB) are expected to see upside today after the company was acquired by ABB (NYSE: ABB) for $3.9 billion, or a 24% premium.
Analysts at Oppenheimer specifically highlighted Cooper Industries, plc (NYSE: CBE), Hubbell (NYSE: HUB-B), and Acuity Brand (NYSE: AYI).
Based on the takeout premium being contemplated (this analysis was based on the WSJ report of $4 billion, however the deal came in a little lower), the firm said CBE could be worth $84.40 (+43%), HUB-B $95.33 (+31.9%) and AYI $63.52 (+9.5%).
Analysts at Oppenheimer specifically highlighted Cooper Industries, plc (NYSE: CBE), Hubbell (NYSE: HUB-B), and Acuity Brand (NYSE: AYI).
Based on the takeout premium being contemplated (this analysis was based on the WSJ report of $4 billion, however the deal came in a little lower), the firm said CBE could be worth $84.40 (+43%), HUB-B $95.33 (+31.9%) and AYI $63.52 (+9.5%).
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