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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (56378)	9/1/1999 7:27:00 AM
From: Ben Sanford	Respond to of 90042

I would love it if some of these acquisitions got into a bidding war. Look what just happened in another acquisition. Following from "Elecronic News Today" Tyco to acquire AFC Cable Less than a week after AFC Cable withdrew from its deal to be acquired by Thomas & Betts Corp., in favor of a third party offer, the electrical cable and wiring firm revealed that Tyco International Ltd. was the unnamed suitor. The world's largest electrical connector maker agreed to buy AFC Cable Systems Inc. for roughly $575 million in stock, a generous enough offer for Thomas & Betts to settle for the $16 million break-up fee. AFC Cable Systems shareholders will receive $45 worth of Tyco stock for each AFC Cable share, a 10 percent premium to AFC's closing price yesterday, more than 25 percent better than the first deal with Thomas & Betts's.