13. August 2013 · Comments Off on Smart Grid Roundup: Schneider to Buy Invensys, Itron Sags in Q2 · Categories: News · Tags: , , , ,

Catching up on the smart grid news of note, let’s start with one of the biggest acquisitions in years for French grid and power equipment giant Schneider Electric: its $5.2 billion takeover of U.K.-based industrial controls giant Invensys.

We covered the news of Schneider’s potential purchase of Invensys early last month, along with speculation that other competitors, including Emerson, Siemens, General Electric or ABB, might make counteroffers. But those competing bids failed to emerge, and last week, Schneider agreed to buy the company at a price of 502 pence a share, or £3.4 billion ($5.2 billion), with the deal expected to close in the fourth quarter of this year. Bloomberg reported this week that Schneider plans to solicit a £2.56 billion ($3.6 billion) loan to help pay for the acquisition.

via Smart Grid Roundup: Schneider to Buy Invensys, Itron Sags in Q2 : Greentech Media.