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Wednesday, April 7, 2010 as of 11:14 AM ET

Alexander Cutler

Alexander M. Cutler

Alexander 'Sandy' Cutler is the current chairman and chief executive officer of Eaton Corporation. Previous to this appointment in 2000, he served as Eaton’s president and chief operating officer.

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Eaton To Buy Cooper For $11.8 Billion In Cash And Stock

Eaton Corp.

(ETN) plans to acquire electrical equipment maker Cooper Industries PLC (CBE) in an $11.8 billion cash-and-stock deal that will expand Eaton's power management and electrical products businesses.Cooper shareholders would receive $72 a share in cash and stock, a 29% premium to Friday's closing price. The stock, which has never traded above the offer price, ended Monday's regular trading session up 25% at $69.88 a share.The deal received the backing of both boards, but the tie-up faces approval from shareholders of both companies as well as regulators. Eaton expects the deal to close this fall."The combination of these two businesses creates an enterprise of real size and capability," said Eaton Chairman and Chief Executive Alexander Cutler on conference call Monday. "We've known one another as companies for many, many years. We're all convinced this is a very, very powerful combination."Cutler will led the combined company, which will be called Eaton Global Corp. and incorpo...

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