WEST KINGSTON –American Power Conversion Corp. announced that, at a special meeting today in New York City, its shareholders have approved the merger of APC with Trianon Inc., a wholly-owned subsidiary of Rueil Malmaison, France-based Schneider Electric.
On Oct. 30, APC and Schneider Electric announced they had entered into an agreement and plan of merger on Oct. 28. That agreement provides, among other things, for each share of APC common stock to be converted to the right to receive $31 in cash.
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APC and Schneider Electric said they expect the transaction, valued at $6.1 billion, to close in the first quarter of 2007, pending receipt of outstanding antitrust regulatory approvals.
American Power Conversion (Nasdaq: APCC), founded in 1981, is a global provider of power, cooling, and management solutions. To learn more, visit www.apc.com or call (800) 877-4080.
