Belden agrees the sale of two business units - 0 views
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Matthew Wonnacott on 30 Nov 12Belden Inc, the NYSE-listed wire and cable manufacture, announced on 29th November that it is selling two of its business arms, Thermax and Raydex, to Carlisle Companies Inc for US$265M. The two companies, which make cable for the aerospace and defence industries, are expected to be sold by 31st December 2012. Belden Inc said the disposals were "in the interests of shareholders" and announced a US$200M share buyback alongside the announcement, indicating the proceeds of the sale will be largely returned to shareholders rather than re-invested.