Schneider Electric Completes Acquisition of BEI Technologies, Inc.
October 06 2005 - 10:35AM
PR Newswire (US)
RUEIL-MALMAISON, France, Oct. 6 /PRNewswire/ -- Schneider Electric
SA (Euronext: SCHN) announced the successful completion of its
previously announced acquisition of BEI Technologies, Inc.
Schneider Electric acquired BEI through a cash tender offer of
$35.00 per share and a subsequent merger of an indirect
wholly-owned subsidiary with and into BEI. As a result of the
merger, any outstanding shares of common stock not validly tendered
and accepted for payment in the tender offer were converted into
the right to receive $35.00 per share in cash, without interest.
American Stock Transfer & Trust Company, the depositary for the
tender offer, will mail to non-tendering stockholders materials to
be used to exchange BEI stock certificates for such payment. BEI
shares have been delisted from Nasdaq and will cease trading at the
close of business on October 5, 2005. Requests for documents may be
directed to Mackenzie Partners, Inc., the information agent for the
tender offer, at 800-322-2885. American Stock Transfer & Trust
Company is acting as depositary for the tender offer. The dealer
manager for the tender offer is Merrill, Lynch, Pierce, Fenner
& Smith Incorporated. About Schneider Electric Schneider
Electric is the world's Power & Control leader. Through its
world-class brands, Merlin Gerin, Square D and Telemecanique,
Schneider Electric manufactures and markets a comprehensive range
of products and services for the residential, buildings, industry,
energy and infrastructure markets. Schneider Electric has 85,000
employees worldwide, operations in 130 countries and recorded sales
of 10.4 billion euro in 2004 through the 13,000 sales outlets of
its distributors. Schneider Electric: Give the best of the New
Electric World to everyone, everywhere, at any time DATASOURCE:
Schneider Electric SA CONTACT: Investor Relations - Schneider
Electric, Alexandre Brunet, +33-0-1-41-29-70-71, fax -
+33-0-1-41-29-71-42; Media contact - Schneider Electric, Veonique
Moine, +33-0-1-41-29-70-76, fax - +33-0-1-41-29-71-95; Media
contact - DGM, Michel Calzaroni, or Olivier Labesse,
+33-0-1-40-70-11-89, fax - +33-0-1-40-70-90-46 Web site:
http://www.schneider-electric.com/
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