Leviton Regains Unilateral Control Of Family-Owned Business with $300 Million Stock Purchase
Leviton Manufacturing Company, Inc. has announced the purchase of a 29.1% minority interest in its stock that has been held by Thomas & Betts Corporation (NYSE:TNB) since 1994, for a cash tender of approximately $300 million.
Leviton’s purchase of Thomas & Betts’ minority interest in its stock secures its long-term strategic objective of the restoration of total ownership of the company to the Leviton family and continuation of its policy to remain privately held and operated.
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