Eaton to buy Cooper Industries for $11.8 billion

May 21, 2012 — Industrial manufacturing company, Eaton Corp., is seeking to buy electrical equipment firm Cooper Industries for about $11.8 billion worth of cash and stock, according to reports.

Eaton will pay a nearly 30 percent premium in this proposed deal as it seeks to diversify its offering of goods and services to the electrical equipment sector. The reported price of the offer amounts to about $72 per share.

The deal could generate $535 million in savings annually for Eaton, according to reports.

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