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Hitachi, UK fund partner on $1.8bn bid for Toshiba's Swiss unit

Smart meter maker Landis+Gyr expected to attract other bidders

TOKYO -- Hitachi has made an acquisition proposal for Swiss smart meter maker Landis+Gyr, a Toshiba subsidiary, sources told The Nikkei. The offer, put forth with U.K. private equity firm CVC Capital Partners, is believed to be worth around 200 billion yen ($1.82 billion).

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