Eaton and Westinghouse Electric.
Eaton and Westinghouse Electric have entered into definitive agreements for Eaton to acquire Westinghouse's Distribution and Control Business Unit for $1.1 billion, plus the assumption of certain liabilities. The agreements are subject to customary closing conditions, including various governmental reviews, which are expected to take several months. The sale is also subject to the waiver by Siemens AG of Germany of a right of first refusal contained in a 1989 contract under which Westinghouse supplies circuit breakers to Siemens for the European market.
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|Title Annotation:||Acquisitions, Expansions|
|Article Type:||Brief Article|
|Date:||Sep 1, 1993|
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