ISYS Invensys

LONDON-- Control systems software group Invensys PLC (ISYS.LN) Friday confirmed speculation of an offer, saying that it has received an indicative offer from automation control equipment supplier Schneider Electric S.A. (SU.FR) of 505 pence a share, of which 319 pence is in cash and 186 pence is in new Schneider shares.

MAIN FACTS:

-Board of Invensys has indicated to Schneider that it is likely to recommend a firm offer at the Offer Price.

-Invensys and Schneider are in discussions about the details of the possible offer which is conditional on, amongst other things, diligence.

-Invensys shares closed Thursday at 440 pence valuing the company at GBP2.87 billion.

-Write to Rory Gallivan at rory.gallivan@dowjones.com; Twitter: @RoryGallivan

Subscribe to WSJ: http://online.wsj.com?mod=djnwires