Schneider Electric Gets Serbian Authority's OK To Buy Telvent

French electrical engineering and power management company Schneider Electric SA (SU.FR) Monday said Serbia's competition authority approved the proposed acquisition of Telvent GIT (TLVT) .

MAIN FACTS:

- Schneider Electric launched a tender offer to buy all outstanding shares of Telvent for $40 per share without interest and less any applicable withholding taxes.

- With the receipt of the regulatory approval from the Serbian competition authority, all necessary regulatory approvals and clearances have been granted and the related condition to the closing of the tender offer has been satisfied.

- As previously announced, the tender offer is scheduled to expire at 5:00 p.m., New York City time, on Tuesday, August 30, 2011.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; inti.landauro@dowjones.com

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