Schneider reportedly nears $5B deal for Invensys

|About: Schneider Electric SE (SBGSF)|By:, SA News Editor

France's Schneider Electric (SBGSF.PK) is nearing a £3.3B (~$5B) deal to acquire British engineer Invensys (IVNSF.PK) and could announce it as soon as tomorrow, Reuters reports.

The structure of the share-plus-cash deal should remain roughly the same as the one initially presented earlier this month, as no other bidder has emerged to challenge Schneider's bid.

One source says there's still a 10%-15% chance that a rival bidder such as Emerson (EMR) could come in even after a potential announcement tomorrow.