Schneider Wins Support for Square D Takeover:...
From Times Staff and Wire Reports
Schneider Wins Support for Square D Takeover: Groupe Schneider SA said the company has won majority shareholder support for its hostile $1.98-billion bid for Square D Co. and hopes to persuade the electrical equipment maker to discuss a friendly merger. But Square D said in a statement that its rejection of the Schneider offer was “unequivocal.” It said the bid continued to be “inadequate and inferior.” The head of Paris-based Schneider, which extended its offer through April 12, said he would not rule out making a higher bid if necessary to complete a friendly merger with Square D.
