British software giant Invensys today confirmed talks over a possible £3.3billion takeover by French rival Schneider Electric announced late last night.
Invensys shares rose 16 per cent to 511p this morning after the group confirmed talks over the mega-deal, which would be the latest in a string of UK technology takeovers in recent times.
Invensys, which makes engineering programs for use on oil rigs and nuclear power plants, said last night: ‘The board of Invensys has indicated to Schneider that it is likely to recommend a firm offer at the given price.’ The 505p offer is made up of 319p in cash and 186p in Schneider shares.
via Invensys confirms £3.3bn takeover approach by French rival Schneider Electric | This is Money.
Invensys confirms £3.3bn takeover approach by French rival Schneider Electric
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