Schneider to Launch Offer of EUR29 a Share for RIB Software
13 Febbraio 2020 - 08:57AM
Dow Jones News
By Cristina Roca
Schneider Electric SE will launch an offer of 29 euros a share
($31.74) for construction software company RIB Software SE, it said
Thursday.
The French company said the offer values RIB's equity at about
EUR1.4 billion and is supported by RIB's board. The two companies
have signed a business-combination agreement.
The voluntary public tender offer will have a minimum acceptance
threshold of 50% plus one share, Schneider said.
The acquisition should be accretive to Schneider's adjusted
earnings before interest, taxes, and amortization margin in 2021,
and will be immediately neutral or positive to earnings per share
excluding transaction one-offs, the company said.
The deal should position Schneider as the reference
solution-provider for smart buildings in view of the energy
transition and of digitization, the company said. It will also
boost Schneider's capabilities in the build/construction phase,
which currently "suffers from a high level of inefficiency due to
very low adoption of digital technologies," Schneider said.
Closing is expected in the second quarter of 2020, Schneider
said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
February 13, 2020 02:42 ET (07:42 GMT)
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