TE Connectivity Ltd. (TEL): Tyco Electronics to sell RF segment Phi...

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Tuesday, 03/25/2008 1:51:35 PM

Tuesday, March 25, 2008 1:51:35 PM

Tyco Electronics to sell RF segment
Philadelphia Business Journal
Thursday, March 13, 2008

Tyco Electronics said Thursday that it plans to sell part of its wireless systems division and announced an increase in its stock buyback program.

The Bermuda-based company, which has its U.S. headquarters in Berwyn, Pa., said it plans to sell its radio frequency components and subsystem segment, which is based in Lowell, Mass., and had about $500 million in sales in fiscal 2007. The business makes antennas, transistors and other items for the aerospace and other markets.

Tyco (NYSE:TEL) said it was increasing the amount of its stock buyback, which was originally announced in September, from $750 million to $1.25 billion. So far, $512 million in stock has been bought.

http://philadelphia.bizjournals.com/philadelphia/stories/2008/03/10/daily31.html?ana=yfcpc