Jean-Pascal Tricoire, Schneider Electric’s chairman and chief executive, said the bid for Invensys – worth the equivalent of 502 pence a share, a 14pc premium to Invensys’s closing price of 440p on July 11 – would boost the company’s position as a global leader in software provision.
The French group, which produces power equipment and offers business energy solutions, has long studied ways in which is can increase its presence in the high-margin industrial automation business.
Invensys, which produces software and control systems that helps to run power stations, oil refineries and chemical plants, is particularly strong in this field, and Mr Tricoire insisted yesterday that the two companies “spoke the same language” and complimented each other without overlapping.
via Invensys agrees £3.4bn takeover by Schneider Electric – Telegraph.
Invensys agrees £3.4bn takeover by Schneider Electric
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