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Eaton completes $13bn takeover of Cooper Industries

27 December, 2012
Julian Ponder, pictured leaving for his trial in Bali, was found guilty of possessing drugs and fined 1bn rupiah (£65,000). Photograph: Reuters

Eaton has completed its $13bn acquisition of Cooper Industries – the largest in its 101-year history – to form a global power management company called Eaton Corporation. Together, the businesses had revenues worth $21.8bn and pre-tax earnings of $3.3bn in the year to September 2012. They employ about 100,000 people and operate in more than 150 countries.

Eaton’s chairman and CEO, Alexander Cutler, describes the deal as “a transformational milestone that expands our market segment reach, broadens our portfolio of products, services, and solutions, and strengthens our global geographic footprint. Cooper adds proven capabilities in utility power distribution, smart grid, lighting, lighting controls, wiring devices, and safety solutions to Eaton’s strengths in power quality, power distribution and energy services.”

The process of integrating the businesses is expected to take 24-36 months.




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