The Swiss Times - Swiss News in English

TE Connectivity to Acquire Schaffner

TE Connectivity, a US-Swiss sensor company, has made a public offer to purchase the Swiss industrial company Schaffner. TE Connectivity is offering 505 Swiss Francs per Schaffner share, which is a 79.1% increase from the previous day's closing price. The Schaffner board of directors unanimously recommends that shareholders accept the offer. The largest shareholder, Buru Holding, has also agreed to accept the offer. The offer is subject to the usual conditions and approvals, and is expected to be completed in December 2023. TE Connectivity plans to integrate Schaffner's EMV filter offering into its connectivity and sensor portfolio for industrial and automotive applications. TE Connectivity is a global industrial technology provider with products ranging from connectivity and sensor solutions for the transport, industrial, medical, energy, data communication and household sectors. It employs over 85,000 people, including 8,000 engineers. Schaffner is known for its component manufacturing and offers solutions to ensure the efficient and reliable operation of power electronic systems. It employs 1,826 people and had a turnover of 158.2 million Swiss Francs in 2021/22.nnnnnnnnnn

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