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.