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Schneider Electric finalized its takeover of IGE+XAO following shareholder approvals, announced on May 5, 2022.
Schneider Electric Industries SAS signed a merger agreement to acquire the remaining 16.07% stake in IGE+XAO SA for €50.7 million.
Schneider Electric SE, through its subsidiary Schneider Electric Industries SAS, has acquired 83.93% of the capital of IGE+XAO SA following a simplified public tender offer. A merger of IGE+XAO into Schneider Electric is planned.
Schneider Electric signed a memorandum of understanding to buy software developer IGE + XAO for about EUR188.4 million ($218.3 million), at EUR132 per share.