Nov. 17, 2006: Schneider Electric Acquires American Power Conversion
RUEIL MALMAISON, France - Schneider Electric and American Power Conversion (APC) have entered into a definitive merger agreement under which Schneider Electric will acquire all outstanding shares of APC for an enterprise value of approximately $5.5 billion. The price per share is $31 and will be paid in cash for a total amount of approximately $6.1 billion.
By acquiring a global leader in the critical power market, and combining it with its subsidiary MGE UPS Systems, Schneider Electric said it will become a major worldwide company in the sector. Growth in the critical power market is being driven by concerns regarding the reliability of the electric power grid and the need for power supply continuity in an increasing number of critical applications.