Schneider Electric To Buy PTC For $205 Per Share
Oct 5 (Reuters) - Schneider Electric SE SCHN.PA:
SCHNEIDER ELECTRIC TO ACQUIRE PTC, CREATING THE NEXT LEVEL OF ENERGY AND INDUSTRIAL INTELLIGENCE
ALL-CASH ACQUISITION AT $205 PER SHARE FOR 100% OF THE SHARE
IMPLIED ENTERPRISE VALUE OF $23.7 BILLION (€21.1 BILLION)
CAPITAL OF PTC, VALUING PTC’S EQUITY AT APPROXIMATELY $22.6 BILLION
REPRESENTS A 42.3% PREMIUM TO THE LAST CLOSING PRICE
APPROXIMATELY €800 MILLION OF EXPECTED REVENUE SYNERGIES
TO BE FUNDED VIA COMBINATION OF EQUITY ISSUANCE OF AROUND €5 TO 6 BILLION AND NEW DEBT ISSUANCE OF AROUND €16 TO 17 BILLION
€250 MILLION OF HIGHLY EXECUTABLE ANNUAL RUN-RATE COST SYNERGIES EXPECTED TO BE ACHIEVED BY YEAR 3
TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY THE BOARDS OF DIRECTORS OF BOTH COMPANIES
CLOSING OF THE TRANSACTION IS ANTICIPATED BY Q3 2027
Source text: here
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