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France: Commission approves Schneider Electric’s $5.6B buyout

By  |  December 1, 2013

France-based Schneider Electric has been given clearance to acquire UK engineering firm Invensys in a $5.56 billion deal, first announced last July.

Reports say the acquisition will allow Schneider to strengthen its position within the industrial automation sector.

The clearance of the deal was announced by the Commission, which found no significant competition concerns, finding that the French and UK companies are “complimentary.”

Full Content: Reuters

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