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05/06/2008
Itron to sell 3.4 million common shares ...

Itron Inc., the Liberty Lake maker of automated meter-reading technology, announced today that it has agreed to sell 3.4 million shares of its common stock in a public offering to be underwritten by Goldman, Sachs & Co. The offering, which is expected to close on or about May 12, would amount to roughly $320 million based on today's closing price of $94.47 a share. Itron said it expects to use $250 million of the net proceeds from the sale of shares to repay a portion of its outstanding non-convertible debt, and the remainder for general corporate purposes.