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Tyco Electronics to buy ADC for $1.25 billion

Tyco Electronics said on Tuesday that it has agreed to buy ADC Telecommunications, a broadband equipment maker, for about $1.25 billion in cash, the latest in a spate of deals over the past two days.

Under the terms of the deal, Tyco will pay $12.75 per ADC share, a 44 percent premium to ADC’s Monday closing stock price of $8.85.

[New York Times]