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Leviton Regains Unilateral Control of Family-Owned Business with

LITTLE NECK, NY--Leviton Manufacturing Company purchased a 29.1 percent minority interest in its stock that has been held by Thomas & Betts Corporation since 1994, for a cash tender of approximately $300 million.

Leviton's purchase of Thomas & Betts' minority interest in its stock secures its long-term strategic objective of the restoration of total ownership of the company to the Leviton family and continuation of its policy to remain privately held and operated.