Cable giant buys PPC for $515.7 million

American wire and cable giant Baitong said on December 11 local time in the United States that it will pay US$515.7 million to acquire private enterprise PPC. The latter has advantages in broadband connection technology.

Baitong Company stated that this merger and acquisition transaction is expected to increase the company's adjusted earnings per share in FY2013 by 54 cents. Belden said: "PPC brings us innovative products that will help our customers achieve profitability in their businesses."

This article uses the exchange rate: 1 US dollar = 6.2460 yuan