WEST KINGSTON – American Power Conversion Corp. Monday announced plans for the special meeting where shareholders will consider and vote upon the company’s Agreement and Plan of Merger, dated Oct. 28, by and among Schneider Electric SA, Trianon Inc. (an indirect wholly-owned subsidiary of Schneider Electric) and APC.
Under the proposal, each share of APC common stock would be converted into the right to receive $31 in cash.
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APC shareholders of record at the close of business on Wednesday, Dec. 6, will be entitled to receive notice of, and to vote at, the special meeting, which will be held at 2 p.m. on Tuesday, Jan. 16, at 31 West 52nd Street, New York, N.Y.
A definitive proxy statement containing information about the special meeting and the proposed merger will be filed with the U.S. Securities Exchange Commission, APC said.
A copy of that statement, with other voting materials and instructions, will be mailed to shareholders of record as of the record date. Shareholders are encouraged to read these materials, as they contain important information about the planned merger.
Founded in 1981,American Power Conversion (Nasdaq: APCC) is a provider of uninterruptible power supplies (UPSs) and other “global, end-to-end solutions for real-time infrastructure.” A Fortune 1000, Nasdaq 100 and S&P 500 company, it posted sales of $2.0 billion for 2005. It joined France-based Schneider Electric (Paris: SU.PA) on Oct. 30 in announcing “a definitive merger agreement” under which Schneider is to acquire APC for $6.1 billion; the transaction is expected to close in the first quarter of 2007. Additional information is available at investor.apcc.com.
