Telvent Trading over 15% Higher after Acquisition by Schneider Electric

Telvent TLVT agreed to be bought for $2 billion by Schneider Electric SA SBGSY. The cash offer by Schneider Electric values the shares of Telvent at $40 each, representing a 36% premium to Telvent's average share price over the past three months. Abengoa ABGOF, the Spanish provider of renewable-energy solutions, agreed to sell its 40% stake in Telvent to Schneider in the deal. More information can be found here.