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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 | |
---|---|---|---|---|---|---|---|---|---|---|
4.90 | 2.39% | 209.50 | 228.90 | 178.18 | 209.75 | 205.35 | 205.40 | 312,527 | 16:31:05 |
By Cristina Roca
Schneider Electric SE will launch an offer of 29 euros a share ($31.74) for construction software company RIB Software SE, it said Thursday.
The French company said the offer values RIB's equity at about EUR1.4 billion and is supported by RIB's board. The two companies have signed a business-combination agreement.
The voluntary public tender offer will have a minimum acceptance threshold of 50% plus one share, Schneider said.
The acquisition should be accretive to Schneider's adjusted earnings before interest, taxes, and amortization margin in 2021, and will be immediately neutral or positive to earnings per share excluding transaction one-offs, the company said.
The deal should position Schneider as the reference solution-provider for smart buildings in view of the energy transition and of digitization, the company said. It will also boost Schneider's capabilities in the build/construction phase, which currently "suffers from a high level of inefficiency due to very low adoption of digital technologies," Schneider said.
Closing is expected in the second quarter of 2020, Schneider said.
Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca
(END) Dow Jones Newswires
February 13, 2020 02:42 ET (07:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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