TE in $1.7 bil expansion move

Investor's Business Daily

Connectivity-device maker TE Connectivity (TEL) says it has entered into a definitive agreement to acquire Measurement Specialties (MEAS) for $86 per share, about $1.7 bil including assumption of some debt. The purchase, expected to close by the end of this year, would enable TE to expand in the market for sensors, sensor-based systems and other devices for scientific research and other industries. TE Connectivity shares rose 0.3% to 61.94. Measurement shares rose 0.3% to 78, then jumped 10.3% to 86 in after-hours trading.

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