ABB of Switzerland is nearing a deal to acquire Memphis-based electrical components maker Thomas & Betts Corp. (NYSE: TNB) for approximately $3.9 billion. The $72 per share offer represents a 24% premium to last Thursday’s closing price. www.tnb.com
Siemens AG has agreed to acquire RuggedCom Inc. (TSX: RCM), a Canadian maker of utility-grade communications networking solutions, for C$382 million. The C$33 per share offer represents a 26% premium to RuggedCom’s closing price last Friday, and tops a rival offer from Belden Inc. (NYSE: BDC). www.siemens.com
TonenGeneral Sekiyu KK, Japan’s second-largest oil refiner, has agreed to acquire a 99% stake in ExxonMobil’s Japanese subsidiary (ExxonMobil Yugen Kaisha) for approximately $3.94 billion.
HgCapital is seeking to sell SHL, a UK-based provider of psychometric testing services, according to the FT. The deal could be valued at around $700 million, with Morgan Stanley managing the process. www.shl.com
U.S. Steel Corp. (NYSE: X) has agreed to sell its Serbian plant to the Serbian government for $1. U.S. Steel had bought the facility out of bankruptcy for $33 million in 2003, but had been losing money on its continued operation. www.uss.com