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Schneider gets all-clear to buy APC

09 February 2007

Schneider Electric has received the European Commission’s (EC) permission to buy American Power Conversion (APC) on the proviso it sells off part of its business.

The EC has given its final clearance for the French power and control specialist to acquire all outstanding shares of APC for $31.00 a share.

APC shareholders first approved the acquisition on 16 January 2007 and now, with the EC approval, expect to close the transaction by 22 February.

Inline with EC requirements, Schneider Electric plans to divest its MGE UPS Systems operations in small systems below 10kVA.

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