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Wednesday, June 18, 2014

TE Connectivity to purchase Measurement Specialties for $1.7 bln, (NASDAQ: MEAS)

TE Connectivity, a maker of switches and sensors, said it would purchase Measurement Specialties Inc, which makes precision sensors and sensor-based systems, for about $1.7 billion including debt, to strengthen its sensor-making business. TE's offer of $86 per Measurement share represents a premium of 10.25 percent to Measurement's closing price on Wednesday.

Shares of MEAS traded higher by 0.32% or $0.25/share to $78.00. In the past year, the shares have traded as low as $42.70 and as high as $79.00. On average, 58891 shares of MEAS exchange hands on a given day and today's volume is recorded at 119191.