TE Connectivity to acquire Richards Manufacturing for about $2.3 billion (updated)

TE Connectivity

12/02/2025 12:11

(Adds details in paragraph 2, shares in paragraph 3)
       Feb 12 (Reuters) - TE Connectivity  TEL.N  said on
Wednesday it would buy utility grid products maker Richards
Manufacturing Co from funds managed by Oaktree Capital
Management and members of the Bier family for about $2.3 billion
in cash.
    Shares of the company rose 2% before the bell.
    The Galway, Ireland-based company looks to finance the deal
through a mixture of cash and debt. It expects the deal to close
in its third-quarter ending June.


 (Reporting by Abhinav Parmar in Bengaluru; Editing by Savio
D'Souza and Sriraj Kalluvila)
 ((Abhinav.Parmar@thomsonreuters.com;))