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Share Name Share Symbol Market Type
Schneider Electric SE EU:SU Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.32 -0.21% 151.36 149.00 151.98 151.36 146.20 147.54 1,217,941 02:01:43

Schneider Electric to Buy Out IGE + XAO for Nearly $400 Million

20/07/2021 7:55am

Dow Jones News


Schneider Electric (EU:SU)
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By Mauro Orru

 

Schneider Electric SE plans to file an offer to buy out software company IGE + XAO SA for 338 million euros ($398.8 million).

The French energy-management company said Tuesday that it would launch the offer through its subsidiary Schneider Electric Industries SAS, which owns about 67.7% of IGE + XAO and 78.3% of voting rights.

The offer will be for approximately 31.9% of IGE + XAO at EUR260 a share, representing a 15% premium over the latest closing price of the company.

IGE + XAO will subsequently be delisted and will join the energy management software division at Schneider Electric, which expects to file the offer in September.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

July 20, 2021 02:55 ET (06:55 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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