Deals
Schneider Electric Offers $5 Billion for Invensys Takeover
This article is for subscribers only.
Schneider Electric SA, the world’s largest maker of low- and medium-voltage equipment, is in talks about a 3.3 billion-pound ($5 billion) offer for Britain’s Invensys Plc to add industrial software and control systems.
France’s Schneider is offering to pay 505 pence a share, comprising 319 pence in cash and 186 pence in new shares, London-based Invensys said yesterday. Invensys indicated it’s likely to accept an offer at the proposed value, which is 15 percent higher than the closing share price yesterday. Schneider said that the talks are at an early stage.