Schneider Electric To Make Invensys Offer This Week - Report
21 July 2013 - 10:03PM
Dow Jones News
LONDON--French engineering group Schneider Electric SA (SU.FR)
is expected to make a formal takeover offer worth 3.3 billion
pounds ($5.04 billion) for U.K. rival Invensys (ISYS.LN) this week,
The Sunday Times newspaper reports, without citing sources.
Schneider Electric, which has already made an indicative
cash-and-shares offer, has until Aug. 8 to make a firm offer. It
sees the deal as boosting its industrial software and technology
business and shifting further from electrical devices.
Invensys says it would likely recommend to shareholders that
they accept the offer.
Schneider Electric wasn't immediately available for comment.
Full story:
http://www.thesundaytimes.co.uk/sto/business/Industry/article1290241.ece
Write to London bureau at generaldesklondon@dowjones.com
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