Schneider Extends Tender Offer For Telvent Shares To Aug 22
03 Agosto 2011 - 2:20AM
Noticias Dow Jones
French electrical engineering and power management company
Schneider Electric SA (SU.FR) Wednesday said it has extended its
tender offer to buy all outstanding shares of U.S.-based software
company Telvent GIT SA (TLVT) until Aug. 22.
Schneider Electric offered $40 for each share of Telvent and the
operation values Telvent at about EUR1.4 billion.
Spanish engineering and renewable energy company Abengoa SA
(ABG.MC) agreed to sell its 40% stake in Telvent to Schneider
Electric and some Abengoa managers also agreed to sell a 1.5% stake
they hold in Telvent.
Schneider had already extended the tender offer in late July and
may extend it further, the company said in a statement.
The acquisition still needs the approval of European Union
regulators and other authorities.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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