Schneider Electric Gets Serbian Authority's OK To Buy Telvent
29 August 2011 - 12:14PM
Dow Jones News
French electrical engineering and power management company
Schneider Electric SA (SU.FR) Monday said Serbia's competition
authority approved the proposed acquisition of Telvent GIT (TLVT)
.
MAIN FACTS:
- Schneider Electric launched a tender offer to buy all
outstanding shares of Telvent for $40 per share without interest
and less any applicable withholding taxes.
- With the receipt of the regulatory approval from the Serbian
competition authority, all necessary regulatory approvals and
clearances have been granted and the related condition to the
closing of the tender offer has been satisfied.
- As previously announced, the tender offer is scheduled to
expire at 5:00 p.m., New York City time, on Tuesday, August 30,
2011.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
inti.landauro@dowjones.com
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