The Moeller Group of Bonn, Germany , supplies components for commercial and residential building applications and industrial controls for industrial equipment applications. The company sells primarily to Western and Eastern Europe and Asia Pacific. Purchase price is€1.55 billion (U.S. $2.23 billion). The transaction, expected to close in first-quarter 2008, is subject to regulatory approvals and customary closing conditions. The Moeller Group has estimated sales of €1.02 billion (U.S. $1.47 billion) and EBITDA of €170 million (US $245 million) for the 12months ending December 31, 2007. The company has 15 global production facilities, sales offices in more than 90 countries, and approximately 8,700 employees.
Eaton also announced a tender offer all shares of Phoenixtec Power Co. Ltd. (Taipei, Taiwan), which is listed on the Taiwan Stock Exchange. Phoenixtec makes single- and three-phase uninterruptible power supply (UPS) systems that are sold worldwide. Phoenixtec has leading positions in UPS markets in China, Southeast Asia, and Eastern Europe. Eaton’s offer price is NT $50 per share (U.S. $1.54 per share). Assuming 100% of Phoenixtec outstanding shares are purchased, the net purchase price would be U.S. $565 million.
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