Cooper Industries Proposed Acquisition of Laird

Cooper Industries plc CBE today announces that on 1 June it made a proposal to the Board of Laird plc to acquire Laird by way of a cash offer at 185 pence per Laird share, a 35% premium to yesterday's closing price. This proposal is subject only to limited pre-conditions. Cooper is proposing an all cash offer of 185 pence per Laird share, to be made by Cooper Industries Holdings Limited. This offer would value the existing issued share capital of Laird at approximately 493 million pounds Sterling. This proposal represents a 35% premium to the Laird closing share price of 137.3 pence as of 15 June 2011 and is a 30% premium to the average closing price of Laird's shares over the period of 12 months ended on 15 June 2011.