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APC Inks Merger Deal With Schneider Electric
By
ChannelTimes Staff
International Desk, Nov 3, 2006
American Power Conversion, the global provider of power solutions, and Schneider Electric, provider of solutions for electrical distribution, industrial control and automation projects, have executed a definitive merger agreement.
This transaction, which is subject to approval by APC shareholders and other customary conditions, is valued at an aggregate of approximately $6.1 billion.
Rob Johnson, president & CEO, APC, said, "This transaction provides APC stockholders with an immediate and substantial cash premium for their investment in the company. Upon completion of the transaction, APC will become part of Schneider Electric, with greater resources to accomplish our long-term plans, which will be favorable for our employees, customers, business partners and suppliers worldwide."
Commenting on the merger, Johnson said, "Both companies have a dedication to innovation and customer service that make our combined enterprise an even stronger, more competitive player in the industry." Talking on the merger from Schneider Electric's point of view, Jean-Pascal Tricoire, CEO, Schneider Electric, said, "This transaction is a tremendous opportunity for growth and for both companies, together, to provide unique, differentiated solutions to our combined customers."
The combination of these two businesses would affect not only the single-phase and the three-phase UPS systems, but also the integrated systems for IT and data center applications.
APC s shareholders are expected to vote on the transaction early next year, in order to close it in the first quarter of 2007. While approval from Schneider Electric s shareholders is not required, the Board of Directors of APC has approved the transaction with Schneider and intends to recommend to its shareholders to approve the transaction.
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Great news. We can now look forward to some real MNC action in India. We have been major MGE customers, and this will now allow large customers like us to buy a world-class offer from one company |
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- Sukumar,
NPC, Chennai
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pl let me know if you have any sales or service support for AC MGE products
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- Gayathri,
APC Sanwire, Chennai
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R U LOOKING FOR 1.5 VOLTS ALKALINE BATTERIES,SIZES-AA,AAA,9V. PLEASE CONTACT: MATRIX TECHNOLOGIES-984978930,TELEFAX: 23079340
- Vijayanand, Matrix Technolo, Hyderabad
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- Vijayanand,
Matrix Technolo, Hyderabad
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R U LOOKING FOR 1.5 VOLTS ALKALINE BATTERIES,SIZES-AA,AAA,9V. PLEASE CONTACT: MATRIX TECHNOLOGIES-984978930,TELEFAX: 23079340 |
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- Vijayanand,
Matrix Technolo, Hyderabad
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Requirement for UPS Invertor, Stabiliser, Batteries call on 25003313 /25003303 |
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- Smitha,
Champpionn Powe, mumbai
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sir i need apc ups 3kva (online)please send to me quation and the techinical specification details |
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- selvaraj,
skynet infotech, thozhudur
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For the Indian customers and channel partners, this is a fantastic opportunity. World class technology, products and support now available through a common organization |
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- Seema Bhatt,
Fincare, Bangalore
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THIS IS FANTASTIC NEWS. TWO GLOBAL LEADERS in SMALL AND LARGE POWER SYSTEMS ARE NOW UNDER ONE STRUCTURE. AS PARTNERS AND CUSTOMERS, THIS BRINGS TREMENDOUS VALUE |
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- R Stevens,
EYT Communicati, Mumbai
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its really good,
go ahead |
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- subrat kumar,
sms technologie, secunderabad
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