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Monday, August 18, 2014

Sensata Technologies to purchase Schrader in $1 billion deal, (NYSE: ST)

Sensors and electrical controls maker Sensata Technologies Holding NV said on Monday its unit would purchase Schrader group of companies from private equity firm Madison Dearborn Partners LLC for an enterprise value of $1 billion. Schrader, which makes tire pressure monitoring sensors, is expected to have $550 million in revenue this year, Sensata said.

Shares of ST fell by 0.3% or $-0.14/share to $46.17. In the past year, the shares have traded as low as $36.50 and as high as $48.94. On average, 915892 shares of ST exchange hands on a given day and today's volume is recorded at 654489.