Schneider Electric to buy Xantrex

[MoneyGuy]

LONDON (MarketWatch) -- Xantrex Technology Inc. said Monday that it's agreed to be bought by Schneider Electric for a cash purchase price of C$15 a share, or C$500 million ($492 million). The company said the price represents a 55% premium to the average closing price for the 30 day period to July 21, when the company disclosed it was in talks over a deal. The company, which manufactures power systems, said a condition of the deal is that it divests its programmable power business, and added it's entered a definitive agreement to sell the unit to Ametek Inc. .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

http://feeds.marketwatch.com/~a/marketwatch/marketpulse?i=KCMjl3 (http://feeds.marketwatch.com/~a/marketwatch/marketpulse?a=KCMjl3)

http://feeds.marketwatch.com/~f/marketwatch/marketpulse?i=cqKlYJ (http://feeds.marketwatch.com/~f/marketwatch/marketpulse?a=cqKlYJ) http://feeds.marketwatch.com/~f/marketwatch/marketpulse?i=Ct57Rj (http://feeds.marketwatch.com/~f/marketwatch/marketpulse?a=Ct57Rj) http://feeds.marketwatch.com/~f/marketwatch/marketpulse?i=Keu1uj (http://feeds.marketwatch.com/~f/marketwatch/marketpulse?a=Keu1uj) http://feeds.marketwatch.com/~f/marketwatch/marketpulse?i=ULkHuJ (http://feeds.marketwatch.com/~f/marketwatch/marketpulse?a=ULkHuJ)
http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~4/348226146

More... (http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/348226146/story.aspx)