Thursday, September 1, 2011

Schneider Electric SA (“Schneider Electric”)  has announced that its wholly owned subsidiary Schneider Electric España, S.A.U. (“Schneider Electric España”) has successfully completed its cash tender offer to purchase all of the issued shares of Telvent GIT, S.A. (“Telvent”) for $40.00 per share without interest and less any applicable withholding taxes and commenced a subsequent offering period to acquire the remaining untendered shares. As previously announced, the tender offer was made by Schneider Electric España, and the subsequent offering period is being provided, pursuant to a definitive transaction agreement with Telvent.

Telvent is described as a global IT solutions and business information services provider that "improves the efficiency, safety and security of the world’s premier organizations. We serve markets critical to the sustainability of the planet, including the energy, transportation, agriculture, and environmental sectors."

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