Cooper Announces Tender Offer for Polaron plc


HOUSTON, Feb. 20: Cooper Industries, Ltd. (NYSE:CBE) today announced that its subsidiary, Cooper Controls (U.K.) Limited, made a binding offer for all outstanding shares of Polaron plc, a publicly traded company (LSE:POL) based in the United Kingdom. Polaron is a leading manufacturer of intelligent lighting control solutions predominantly in the non-residential construction market. For the year ended June 30, 2006, Polaron reported consolidated revenues of £23.7 million. The offer has been unanimously recommended by the Polaron Board of Directors and is currently being reviewed by Polaron's shareholders.

About Cooper Industries

Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 31,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group. Cooper Connection provides a common platform for Cooper's marketing and sales to electrical distributors. For more information, visit the website at www.cooperindustries.com.

For information contact:
Jon Safran
Cooper Industries
713-209-8610
safran@cooperindustries.com

All Topics