Diversified industrial manufacturer, Eaton Electric Systems , has acquired 91% of the shares of Phoenixtec Power Company, a company listed on the Taiwan Stock Exchange.
The shares were tendered as part of Eaton Electric Systems’ recent tender offer for Phoenixtec Power Company. Eaton Electric Systems launched a tender offer to acquire Phoenixtec Power Company, on December 21, 2007, in Taipei, Taiwan.
Eaton Electric Systems intends to take further steps to acquire all remaining shares. Phoenixtec manufactures single- and three-phase uninterruptible power supply (UPS) systems that are sold globally.