On 29 June 2012, Elster Group SE, based in Essen/Germany, announced that it had entered into a definitive agreement with the British affiliated company Melrose PLC, pursuant to which a wholly-owned subsidiary of Melrose PLC would offer to acquire all outstanding American Depositary Shares amounting to $2.3 billion of the electricity, gas and water measurement and control provider Elster. Melrose PLC proposes to partially fund the acquisition by way of a fully underwritten rights issue. The transaction is expected to close in the third quarter of 2012, subject to regulatory approval by the relevant authorities.
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