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TE Connectivity to Sell Subsea Communications Business

TE Connectivity Ltd., Schaffhausen, Switzerland, entered into a definitive agreement to sell its subsea communications business (SubCom) to Cerberus Capital Management, L.P., for $325 million in cash. The transaction is expected to close by the end of the first quarter of TE's fiscal year 2019 and is subject to customary closing conditions.

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