TE Connectivity Shareholders Approve Proposals At Special General Meeting; Expects To Complete Merger Between TE Connectivity Ltd. And Its Wholly Owned Subsidiary, TE Connectivity Plc, On Or About Sept. 30, 2024; Changing The Jurisdiction Of Organization Of The Company From Switzerland To Ireland
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TE Connectivity Ltd. (NYSE:TEL) shareholders approved proposals at a special general meeting, paving the way for a merger with its subsidiary, TE Connectivity plc, and changing the company's jurisdiction from Switzerland to Ireland by September 30, 2024.
June 12, 2024 | 8:12 pm
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Shareholders of TE Connectivity Ltd. (NYSE:TEL) approved a merger with its subsidiary, TE Connectivity plc, changing the company's jurisdiction from Switzerland to Ireland by September 30, 2024. This move is expected to streamline operations and potentially offer tax benefits.
The approval of the merger and change in jurisdiction is likely to have a positive impact on TE Connectivity Ltd. (NYSE:TEL) as it may streamline operations and offer tax benefits. The market generally views such corporate restructuring favorably, which could lead to a short-term increase in stock price.
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