WEST KINGSTON, R.I. and RUEIL MALMAISON, France, Jan. 16 /PRNewswire/
-- American Power Conversion Corporation (Nasdaq: APCC) (APC) and Schneider
Electric announced that at a special meeting held today the shareholders of
APC approved the merger of APC with a wholly-owned subsidiary of Schneider
Electric.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031003/NEAPCLOGO )
As previously announced on October 30, 2006, APC and Schneider Electric
entered into an agreement and plan of merger, which provides, among other
things, for each share of APC common stock to be converted to the right to
receive $31.00 in cash. APC and Schneider Electric continue to expect the
transaction to close in the first quarter of 2007, pending receipt of
outstanding antitrust regulatory approvals.
Safe Harbor Provision
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. All
statements in this press release that do not describe historical facts,
such as statements concerning APC's future plans or prospects are
forward-looking statements. All forward-looking statements are not
guarantees and are subject to risks and uncertainties that could cause
actual results to differ from those projected. While not exhaustive, the
factors that could cause actual results to differ include the following:
the ability of APC and Schneider Electric to gain regulatory approval for
the proposed merger; successful completion of the transaction within the
expected timeframe; and the risks described from time to time in APC's
filings with the Securities and Exchange Commission. APC and Schneider
Electric disclaim any obligation to update or revise statements contained
in this news release based on new information or otherwise.
About American Power Conversion
Founded in 1981, American Power Conversion (Nasdaq: APCC) (APC) is a
leading provider of global, end-to-end solutions for real-time
infrastructure. APC's comprehensive products and services for home and
corporate environments improve the availability, manageability and
performance of sensitive electronic, network, communication and industrial
equipment of all sizes. APC offers a wide variety of products for
network-critical physical infrastructure including InfraStruXure(R), its
revolutionary architecture for on-demand data centers, as well as physical
threat management products through the company's NetBotz(R) division. These
products and services help companies increase the availability and
reliability of their IT systems. Headquartered in West Kingston, Rhode
Island, APC reported sales of $2.0 billion for the year ended December 31,
2005, and is a Fortune 1000, Nasdaq 100 and S&P 500 Company.
All trademarks are the property of their respective owners.
About Schneider Electric
Schneider Electric is the world's power and control specialist. Through
its world-class brands, Merlin Gerin, Square D and Telemecanique, Schneider
Electric anticipates and satisfies its customers' requirements in the
residential, building, industry and energy and infrastructure markets. With
92,000 employees and operations in 130 countries, Schneider Electric
generated sales of euros 11.7 billion in 2005 through 13,000 distributor
outlets.
http://www.schneider-electric.com
Schneider Electric: Giving the best of the New Electric World to
Everyone, Everywhere, at Any Time
For more information contact:
APC:
Investors: Debbie Hancock, APC director, investor relations,
800-788-2208, ext. 2994, Debbie.hancock@apcc.com
Media: Chet Lasell, APC public relations director, 800-788-2208, ext.
2693, chet.lasell@apcc.com
Schneider Electric:
Investor Relations: Alexandre Brunet, Tel: +33 (0)1 41 29 70 71, Fax:
+33 (0)1 41 29 71 42, Euroclear: 12197
Media: Veronique Moine, Tel: +33 (0)1 41 29 70 76
DGM: Michel Calzaroni, Olivier Labesse, Tel: +33 (0)1 40 70 11 89
SOURCE American Power Conversion
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Related links:
http://www.apc.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20031003/NEAPCLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/046187.html /
CONTACT:
Investors: Debbie Hancock, APC director,
investor relations, +1-800-788-2208, ext. 2994, or
Debbie.hancock@apcc.com, or Media: Chet Lasell, APC public
relations director, +1-800-788-2208, ext. 2693, or
chet.lasell@apcc.com, both of American Power Conversion; or
Investor Relations: Alexandre Brunet, +33 (0)1 41 29 70 71, Fax
+33 (0)1 41 29 71 42, or Euroclear 12197, or Media: Veronique
Moine, +33 (0)1 41 29 70 76, both of Schneider Electric, or DGM:
Michel Calzaroni or Olivier Labesse, +33 (0)1 40 70 11 89, both
for Schneider Electric
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