Schneider Electric seeks to buy Digital Electronics

North Andover, MA Schneider Electric announced Sept. 9 that it has reached a conditional agreement to acquire a 35% stake in Digital Electronics (Osaka, Japan), and adds it is scheduled to launch a takeover bid for the remaining portion of Digital's share capital. Among other conditions, this planned transaction is subject to reaching a minimum stake of 66.

10/01/2002


North Andover, MA - Schneider Electric announced Sept. 9 that it has reached a conditional agreement to acquire a 35% stake in Digital Electronics (Osaka, Japan), and adds it is scheduled to launch a takeover bid for the remaining portion of Digital's share capital. Among other conditions, this planned transaction is subject to reaching a minimum stake of 66.7% and successfully completing due diligence requirements. Digital and its 1,100 employees specialize in human-machine interface (HMI) products, and generate approximately 200 million Euros annually. Digital's headquarters in North America is Pro-face America Inc. (Glendale Heights, IL), which owns Xycom Automation Inc. (Saline, MI).





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