Schneider in €4.7bn takeover of APC

French electrical equipment giant Schneider Electric has struck a €4.7 billion merger deal with the board of American Power Conversion (APC).

4th November, 2006

French electrical equipment giant Schneider Electric has struck a €4.7 billion merger deal with the board of American Power Conversion (APC).

APC, a US-based company specialising in secured power supply, had announced 280 layoffs at its Galway and Castlebar factories in the five months before the announcement.

Schneider Electric is offering $6.1 billion in cash for the whole of APC, a 30 per cent premium on the company’s stock market value at the time of the...

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