American Power Gets Bought

The deal values the company at $6.1 billion.
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American Power Conversion (APCC) reached a deal to be acquired by France's Schneider Electric for $6.1 billion.

The purchase will value American Power at $31 a share in cash. The stock has traded between $16.28 and $24.75 in the past year. Shares were surging $6.22, or 26.2%, to $29.98 in premarket trading Monday.

The transaction should close in the first quarter, American Power said.