Swiss engineering group ABB said it had agreed to buy U.S. electrical components maker Thomas & Betts for $3.9 billion to ramp up its presence in the world's largest market for low-voltage products. Under the terms of the deal, ABB will pay $72 per share in cash -- a 24 percent premium over the stock's Friday closing price -- for Thomas & Betts, which supplies the construction, communications and power industries with connectors for cables, steel masts and heating and ventilation products.

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