Schneider to buy BEI for $562 million

BEI Technologies Inc. and Schneider Electric SA report they've agreed to have Schneider's acquisition subsidiary buy all of BEI's outstanding shares for $35 each, or approximately $562 million in cash, including about $29 million in net financial debt. Both firms' boards of directors already have approved the transaction.

08/01/2005


BEI Technologies Inc. and Schneider Electric SA report they've agreed to have Schneider's acquisition subsidiary buy all of BEI's outstanding shares for $35 each, or approximately $562 million in cash, including about $29 million in net financial debt. Both firms' boards of directors already have approved the transaction.

Once the tender offer is completed, the agreement calls for any remaining BEI shares to be acquired in a cash merger also for $35 per share. As a result, Schneider's subsidiary will be merged with BEI. The offer will be subject to customary conditions, including tendering a majority of BEI's shares on a fully diluted basis. The subsidiary's payment for the shares also is subject to conditions, including regulatory approvals.

BEI manufactures electronic sensors, motors, actuators, rotary optical encoders, linear encoders with associated digital readouts (DROs), and motion control products used for factory and office automation, medical equipment, military, aviation, and space systems.





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Sensor-to-cloud interoperability; PID and digital control efficiency; Alarm management system design; Automotive industry advances
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me