The French groups SCHNEIDER ELECTRIC and LEGRAND have announced their merger through a friendly share swap. SCHNEIDER is to offer 7 of its shares for two ordinary LEGRAND shares. Called SCHNEIDER LEGRAND, the new entity will have an overall accumulated turnover of 12.4 bn euro (over three-quarters of which from the former SCHNEIDER ELECTRIC), and a stock market capitalisation of 17 bn euro and employ 94,000 people. It should become the world's top low-voltage electrical equipment and...