- Published: 21 August 2008 21 August 2008
Xantrex Technology Inc. announced that it has entered into a definitive agreement to be acquired by Schneider Electric for a cash purchase price of CAN$ 15.00 per share, representing a premium of approximately 55% over the "undisturbed" average closing price of Xantrex's shares on the Toronto Stock Exchange for the 30 day period ending July 21, 2008 when the company disclosed that it was in exclusive negotiations.? The all-cash transaction has an equity value of approximately CAN$ 500 million. As a condition to the sale of Xantrex to Schneider Electric, Xantrex will divest its programmable power business.? Xantrex?also announced that it has entered into a definitive agreement for the sale of its programmable power business to AMETEK, Inc..