Key Developments: Legrand SA (LEGD.PA)

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Latest Key Developments (Source: Significant Developments)

Legrand to propose share repurchase program
Thursday, 3 Apr 2014 08:00pm EDT 

Legrand SA:To propose terms of share repurchase program to annual general meeting.Program would authorize repurchase of up to 10 pct of capital.Maximum price per share 60 euros.Total maximum that could be spent 500 million euros.Authorization valid for 18 months.  Full Article

Legrand SA issues FY 2014 financial guidance; proposes FY 2013 dividend
Thursday, 13 Feb 2014 01:51am EST 

Legrand SA:Proposes dividend of 1.05 euro per share, up 5.0 percent.Sees organic growth in sales at between 0 and 3 percent in FY 2014.Sees adjusted operating margin before acquisitions of between 19.8 and 20.2 percent of sales in FY 2014.FY 2013 sales 4,460.4 million euros.FY 2014 sales 4,617 million euros - Thomson Reuters I/B/E/S Estimates.  Full Article

Legrand SA signs joint venture agreement with Neat
Thursday, 6 Feb 2014 02:30am EST 

Legrand SA:Announces the signature of a joint venture agreement with Neat, a Spanish company specializing in assisted living.  Full Article

Legrand SA acquires Lastar Inc
Wednesday, 5 Feb 2014 02:30am EST 

Legrand SA:Announces the acquisition of Lastar Inc, a United States-based company specializing in pre-terminated solutions for VDI and A/V networks.Says Lastar has annual sales of around $130 million.  Full Article

Legrand SA Narrows FY 2013 Organic Sales Growth Guidance; Raises Lower Level of FY 2013 Operating Margin Guidance; Acquires Tynetec
Thursday, 7 Nov 2013 01:42am EST 

Legrand SA announced that it is narrowing its target for organic growth in sales and is now aiming for fiscal year 2013 organic growth in sales of between -1% and +1% compared with an initial target of -2% to +2%. In addition, the Company has raised from 19% to 19.5% its minimum target for adjusted operating margin before acquisitions, and now targets fiscal year 2013 adjusted operating margin before acquisitions of between 19.5% and 20.0% of sales compared with an initial target of 19% to 20%. The Company also announced that after acquiring Seico, the Saudi specialist in industrial metal cable trays; S2S Onduleurs, a French specialist in uninterruptible power supplies (UPS); and Adlec Power, one of the main Indian producers of distribution boards, Legrand SA announced its acquisition of Tynetec, which makes systems dedicated to assisted living in the United Kingdom. Located near Newcastle, Tynetec employs around 110 people and has annual sales of over EUR 15 million. Financial terms were not disclosed.  Full Article

Legrand SA's BTicino to Equip Casa Camerana in Turin
Wednesday, 25 Sep 2013 08:00pm EDT 

Legrand SA announced that its BTicino has signed a partnership agreement with the architectural firm Camerana&Partners to equip the Casa Camerana with its MyHome automation solutions. Casa Camerana is a development located in the Reale Mutua tower in Turin, Italy.  Full Article

Moody's Upgrades Legrand SA to 'A3'; Outlook Stable-DJ
Friday, 13 Sep 2013 08:25am EDT 

Dow Jones reported that Moody's has raised Legrand SA's long term rating from 'Baa1' to 'A3' with a stable outlook. Moody's said that it considered the fact that the Company had kept its operating margin at a high level during the last 18 months a sign of the solidity of its business model. Moody's said that it expected Legrand SA to maintain a positive net cash position and finance its future acquisitions in a conservative manner using its own resources.  Full Article

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