Schneider Electric Wraps Up APC Acquisition

$6.1 billion acquisition

Plans call for APC, West Kingston, R.I., to be merged with Schneider's MGE UPS Systems Unit. APC executives have said Schneider will keep the APC brand and continue to engage the channel.

Last week, France-based Schneider said it had gained approval to close the APC deal from the European Commission. At the time, they said the acquisition would take no more than two weeks to complete. They then announced the finalization of the merger on Valentine's Day.

The companies said APC shares, which Schneider bought for $31 in cash each, will halt trading on the Nasdaq Global Select Market at the end of business on Wednesday.