TE Connectivity PLC Enters into Transaction Agreement to Acquire Richards Manufacturing

On February 11, 2025, TE Connectivity PLC (NYSE: TEL) announced that it has entered into a Transaction Agreement to acquire the Richards Manufacturing business. The Transaction Agreement involves TE Connectivity, TE Connectivity Corporation, OCM Power V AIV Holdings (Delaware), L.P., OCM Power VI AIV Holdings (Delaware), L.P., and several other entities. The acquisition is expected to be approximately $2.3 billion and will be funded through a combination of cash on hand and debt financing.

The Transaction Agreement includes the sale of membership interests of certain entities, followed by a merger. Once the Transaction is completed, Richards Manufacturing will become a wholly owned indirect subsidiary of TE Connectivity. The closing of the Transaction is subject to customary conditions, including regulatory approval and meeting specified closing conditions.

The Transaction Agreement also outlines the expectations for the Surviving Corporation after the merger, including conducting operations in the usual course of business. Both parties have agreed to customary representations, warranties, and covenants as part of the agreement.

TE Connectivity expects the Transaction to be finalized during the third quarter of fiscal 2025, pending regulatory approval and customary closing conditions. Investors and stakeholders can access additional information related to the acquisition on the company’s website.

This communication contains forward-looking statements, subject to risks and uncertainties. The Company emphasizes that actual results may differ from anticipated results due to various factors. TE Connectivity’s Annual Report on Form 10-K and other SEC filings provide in-depth information regarding these factors.

In a press release issued on February 12, 2025, TE Connectivity announced the Transaction Agreement. The press release and related investor information are available for review on the company’s website. Further details and the complete Transaction Agreement will be filed with TE Connectivity’s next Quarterly Report on Form 10-Q for the quarter ending March 28, 2025.

The Transaction Agreement, upon completion, is expected to bring significant value and strategic growth opportunities to TE Connectivity, enhancing its position in the market. This acquisition aligns with the company’s growth strategy and is projected to have a positive impact on its financial performance moving forward.

The full details of the acquisition, including financial impacts and strategic benefits, will be disclosed in subsequent filings and reports as per regulatory requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TE Connectivity’s 8K filing here.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.