Eaton’s Pending Acquisition of Cooper Receives Clearance from Competition Authorities in Russia and South Africa
29 Ottobre 2012 - 9:30PM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:
ETN) today announced that its previously announced pending
acquisition of Cooper Industries plc has received clearance from
Russia’s Federal Anti-Monopoly Service and the Competition
Commission in South Africa.
The pending acquisition has already been cleared by competition
authorities in the United States, Brazil, Canada, Mexico, South
Korea and Turkey, and all necessary approvals of the shareholders
of Eaton and Cooper have been obtained. The transaction remains
subject to customary closing conditions, including certain
additional regulatory clearances.
Eaton is a diversified power management company with more than
100 years of experience providing energy-efficient solutions that
help our customers effectively manage electrical, hydraulic and
mechanical power. With 2011 revenues of $16.0 billion, Eaton is a
global technology leader in electrical components, systems and
services for power quality, distribution and control; hydraulics
components, systems and services for industrial and mobile
equipment; aerospace fuel, hydraulics and pneumatic systems for
commercial and military use; and truck and automotive drivetrain
and powertrain systems for performance, fuel economy and safety.
Eaton has approximately 73,000 employees and sells products to
customers in more than 150 countries. For more information, visit
www.eaton.com.
Statement Required by the Takeover Rules
The directors of Eaton Corporation accept responsibility for the
information contained in this communication. To the best of the
knowledge and belief of the directors of Eaton Corporation (who
have taken all reasonable care to ensure such is the case), the
information contained in this communication is in accordance with
the facts and does not omit anything likely to affect the import of
such information.
Persons interested in one percent or more of any relevant
securities in Eaton or Cooper may from the date of this
communication have disclosure obligations under Rule 8.3 of the
Irish Takeover Panel Act, 1997, Takeover Rules 2007 (as
amended).
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