Nortek in $260M HVAC deal

Nortek Inc. (NTK +4.4%) agrees to buy the HVAC business of Thomas & Betts for about $260M in cash. The deal is expected to close in Q2.

Nortek CEO Mike Clarke: "Acquiring this business will enable us to extend our air management business into attractive adjacent segments of the HVAC market in the United States and Europe."

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