Tyco reaches ADC acquisition agreement

Components provider Tyco Electronics and optical-communications company ADC have announced a definitive agreement under which Tyco will acquire ADC for $12.75 (£8.49) per share in cash, or an enterprise value of approximately $1.25bn.

The transaction is expected to be accretive by approximately $0.14 per share in the first full year after closing, excluding acquisition-related costs.