Back in June Eaton and Cooper Industries announced that the former would acquire the latter, and the two parties are moving closer to completing the deal with the issuance of a Joint Proxy Statement/Prospectus. Shareholders from both companies will vote on the acquisition at sequential meetings planned for October 26 in Cleveland, Ohio at Eaton Center.
The $11.8 billion acquisition was not lighting focused, but Cooper's lighting brands are part of the deal. The two agreed that a newly created holding company called Eaton Global Corp. would be based in Ireland and would acquire Cooper. The statement just issued to shareholders was done in accordance with Irish laws.
The proxy statement includes details of the planned transaction including details on the new holding company. It also includes details of the shareholder meetings.
Shareholders of record on September 13, 2012 from both companies are eligible to vote. The companies will accept votes made by phone to 800-690-6903, over the Internet at www.proxyvote.com, by mail, or in person.
