China Clears Tyco Electronics' Acquisition of ADC
SCHAFFHAUSEN, Switzerland, Dec. 2, 2010 - On Tuesday, Nov. 30, 2010, Tyco Electronics Ltd. (NYSE: TEL) received notification that the Ministry of Commerce of the People's Republic of China, which is responsible for the review of acquisition transactions under the Antimonopoly Law and its implementing regulations, has cleared the company's proposed acquisition of ADC Telecommunications, Inc. (Nasdaq: ADCT).
Tyco Electronics' tender offer for shares of ADC is scheduled to expire at 5:00 p.m., New York City time on Wednesday, Dec. 8, 2010, and the company continues to expect that the transaction will close in the current quarter.
ABOUT TYCO ELECTRONICS
Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, specialty products and subsea communication systems, with fiscal 2010 sales of US$12.1 billion to customers in more than 150 countries. We design, manufacture and market products for customers in a broad array of industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; energy; and lighting. With approximately 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at www.tycoelectronics.com/.
SOURCE Tyco Electronics Ltd.
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