Schneider publishes prospectus linked to Invensys takeover
The New Schneider Electric Shares would result in former Invensys shareholders holding approximately 3% of the enlarged Schneider Electric Group.
The New Schneider Electric Shares will constitute part of the consideration for the ordinary shares in Invensys plc (a company incorporated in England and Wales) in the framework of the offer made by Schneider Electric SA and Samos Acquisition Company Limited (a wholly-owned subsidiary of Schneider Electric SA) to acquire the entire issued and to be issued ordinary share capital of Invensys, by way of a scheme of arrangement under Part 26 of the Companies Act 2006 in the United Kingdom.
Invensys has announced the publication of the scheme circular to Invensys shareholders earlier today.
The Offer represented a value of 502 pence per Invensys ordinary share, or £3.4 billion for the entire issued and to be issued ordinary share capital of Invensys, based on a closing price per Schneider Electric share of EUR58.06 and an exchange rate of £1/EUR1.1592, both on 11 July 2013 (being the commencement of the offer period).
At 2:21pm: [LON:ISYS] Invensys share price was +0.15p at 497.15p
Story provided by StockMarketWire.com