| Central Penn Business Journal
TE Connectivity closes $2B Deutsch acquisition
TE Connectivity Ltd., the manufacturer of electronic components with large midstate operations, has closed its $2 billion acquisition of competitor Deutsch Group.
The companies finalized the deal late Tuesday, following the European Union's regulatory approval of the transaction on Monday.
Switzerland-based TE Connectivity — which has its U.S. headquarters in Chester County — announced the deal in November and finalized debt refinancing to pay for it in February.
Deutsch, which makes electronic components for harsh-environment industries, was previously owned by France-based Wendel.
TE Connectivity employs about 3,900 people in Central Pennsylvania where it has engineering and administrative offices in Dauphin County. The company trades its shares on the New York Stock Exchange under the ticker symbol TEL.