Transaction should be complete in Juno’s last fiscal quarter 2005
Schneider Electric recently acquired Juno Lighting in a deal valued at approximately $610 million, which includes assumed debt of approximately $200 million. The board of directors of Juno has unanimously approved the merger agreement, and the business deal is expected to be completed in Juno’s last fiscal quarter of 2005.
The transaction is subject to approval by Juno’s stockholders and other customary conditions, including regulatory approvals. Juno’s majority stockholders, affiliates of Fremont Partners, a private equity firm based in San Francisco, which beneficially owns approximately 75% of Juno's stock, have agreed to vote in favor of the merger unless the merger agreement is terminated.
