Schneider Electric Finalizes Acquisition of American Power Conversion, Creating a Worldwide Leader in Critical Power and Cooling Services.
2007/02/14 Schneider Electric Finalizes Acquisition of American Power Conversion, Creating a Worldwide Leader in Critical Power and Cooling Services. Building Automation (regulating, monitoring and controlling a building's utilities) is one of the new growth platforms identified by Schneider Electric as part of its strategy to develop in strategically-related activities with high growth potential.
Rueil-Malmaison, France and West Kingston, R.I., February 14th, 2007 – Schneider Electric (Euronext: SCHN) announced today the completion of the acquisition of American Power Conversion Corporation (Nasdaq: APCC) (APC) following satisfaction of the closing conditions of the merger agreement.
The combination of APC and MGE UPS SYSTEMS creates a worldwide leader in the critical power and cooling services market, offering the widest set of products, solutions and services. The combined operations have well balanced geographical positions, strong innovation capabilities and unparalleled access to market channels.
Under the terms of the acquisition, each share of APC common stock is converted to the right to receive US$31.00 in cash. The total amount to be paid in cash to APC shareholders represents approximately US$6.1billion in exchange for all outstanding shares of APC. Trading in APC’s common stock on the Nasdaq Global Select Market will cease at the end of trading hours on
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