(Reuters) -TE Connectivity said on Wednesday it would buy utility grid products maker Richards Manufacturing Co from funds managed by Oaktree Capital Management and members of the Bier family for about $2.3 billion in cash.
Shares of the company rose 2% before the bell.
The Galway, Ireland-based company looks to finance the deal through a mixture of cash and debt. It expects the deal to close in its third-quarter ending June.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Savio D’Souza and Sriraj Kalluvila)
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