TECHNOLOGY & TELECOMMUNICATIONS
<i> Times Staff and Wire Reports</i>
AMP Acquires M/A-COM in Stock Swap: Harrisburg, Pa.-based AMP Inc., the world’s biggest maker of electrical connection devices, said it will acquire M/A-COM Inc. in a stock deal worth $360 million, creating a major manufacturer of wireless communications equipment with combined annual sales of $4.5 billion. Under the stock agreement, M/A-Comm shareholders will receive 0.28 shares of AMP common stock for each M/A share they own. M/A-COM, headquartered in Lowell, Pa., supplies high performance components for the wireless business. M/A’s shares soared $3 to $10 on the NYSE, while AMP lost 50 cents to end at $37.50.
