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What: Telvent GIT
So what: French company Schneider Electric plans to commence its $2 billion tender offer in the middle of June and close the deal in the third quarter. Both companies' boards are in favor of the deal.
Now what: Spanish engineering company Abengoa has agreed to tender its 40% stake in Telvent, removing a potential roadblock. The deal requires approval from both European and American regulators. Though Telvent's EPS has deteriorated in recent quarters, Schneider expects the merger to increase revenue up to 300 million euros within five years and generate cost savings of up to 35 million euros.
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.