Deals
Toshiba to Buy Landis+Gyr for $2.3 Billion for Smart Grids
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Toshiba Corp., Japan’s biggest maker of nuclear reactors, agreed to buy Swiss electronic-metering company Landis+Gyr AG for $2.3 billion in cash and assumed debt to bolster its smart-grid operations.
The sale will probably be completed in the three months to Sept. 30, pending regulatory approvals, the companies said in a statement today. Hiroki Yamazaki, a Tokyo-based spokesman for Toshiba, declined to specify the breakdown of the debt assumed.