Schneider Electric to Buy Out IGE + XAO for Nearly $400 Million
20 Julio 2021 - 1:55AM
Noticias Dow Jones
By Mauro Orru
Schneider Electric SE plans to file an offer to buy out software
company IGE + XAO SA for 338 million euros ($398.8 million).
The French energy-management company said Tuesday that it would
launch the offer through its subsidiary Schneider Electric
Industries SAS, which owns about 67.7% of IGE + XAO and 78.3% of
voting rights.
The offer will be for approximately 31.9% of IGE + XAO at EUR260
a share, representing a 15% premium over the latest closing price
of the company.
IGE + XAO will subsequently be delisted and will join the energy
management software division at Schneider Electric, which expects
to file the offer in September.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 20, 2021 02:55 ET (06:55 GMT)
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