Oct. 11 (Bloomberg) -- TE Connectivity Ltd. will replace Cephalon Inc. in the Standard & Poor’s 500 Index after the close of trading on Oct. 14, S&P said in a release today.
The change is being made because Cephalon is being acquired by Teva Pharmaceutical Industries Ltd. in a deal expected to close around that date, S&P said.
TE Connectivity, which is based in Schaffhausen, Switzerland, and manufactures automotive and aerospace products, has a market value of $13.3 billion. Its shares have fallen 13 percent so far this year through the close of regular trading today. The stock rose 6.8 percent to $32.78 as of 5:27 p.m. in New York in after-hours trading.
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