Mon, Oct. 24, 1:57 PM
- Rockwell Automation (ROK -2.8%) is sharply lower after Schneider Electric (OTCPK:SBGSF) denies rumors that it might attempt to take over the company.
- Reports last Friday suggested that Schneider was targeting ROK for a potential acquisition at ~$18B, compared to current ~$15.5B market cap, a deal some analysts viewed deal as attractive, thus boosting the credence for the rumors.
- ROK is not commenting on the reports.
Fri, Oct. 21, 9:19 PM
- Rockwell Automation (NYSE:ROK) rose 4.2% in today's trade on speculation that Schneider Electric (OTCPK:SBGSF) may be preparing a takeover offer that values the maker of robotics software and equipment at $18B.
- ROK is an “extremely attractive asset” that faces a tough market in the short term, Bernstein analyst Steve Winoker says, adding that Schneider has proven that it "can be very aggressive on the acquisition front when they want an asset."
Mon, Jun. 13, 10:14 AM
- Aveva says (OTCPK:AVEVF) says it has received a new proposal from Schneider Electric (OTCPK:SBGSF) for the company to combine with Schneider's software business and take a stake in Aveva in exchange for a cash payment to Aveva.
- The proposed deal is similar to one that emerged from talks last year which envisaged Schneider taking a 53.5% stake in Aveva and paying £550M ($793.7M) into the company; the talks were abandoned after the companies failed to agree on terms.
Dec. 15, 2015, 8:12 AM
- Schneider Electric (OTCPK:SBGSF) and Aveva Group (OTCPK:AVEVF) agree to terminate their complex merger deal without either party paying a breakup fee.
- In July, the companies said they had reached a non-binding agreement in which Aveva would receive Schneider’s industrial software business and £550M (~$834M) in cash, and Schneider would then have received a 53.5% stake in Aveva; the deal would have been classified as a reverse merger under British takeover rules.
- But following due diligence, the two boards were unable to reach agreement on the precise terms of the deal, and discussions have been terminated by mutual consent, Aveva says.
Jul. 20, 2015, 8:48 AM
- Schneider Electric (OTCPK:SBGSF) agrees to acquire a controlling stake in U.K.-based engineering software provider Aveva (OTCPK:AVEVF) in a deal that includes a £550M ($858M) cash injection into Aveva.
- Schneider will take a 53.5% stake in the U.K. company, which is valued at £1.3B at current market prices.
- The move is part of Schneider's strategy of shifting from being a manufacturer of electrical devices and automation equipment to an integrated provider of bundled deals, including equipment, services and software, to industry.
Mar. 10, 2014, 7:20 AM
- Schneider Electric (SBGSF) confirms it's in discussions with prospective suitors about selling them its sensors unit CST.
- Les Echos reports that Schneider is in talks with private-equity firm Carlyle (CG) and PAI Partners about a deal that could see the electrical-gear maker reap up to $900M and retain 30% of CST.
Oct. 15, 2013, 7:15 AM
- Siemens (SI -2.1%) is reportedly in advanced negotiations to sell its water-technologies operations to AEA Investors for $800M after the New York private-equity firm beat out American Industrial Partners in the final round of bidding.
- Siemens said last year that it intended to sell the unit as part of its plan to focus on its most profitable assets.
- The conglomerate is also in advanced discussions to sell its postal automation and baggage-handling division unit to P-E firm Triton.
- In addition, Siemens has received bids from ABB (ABB) and Schneider (SBGSF.PK), among other suitors, for its wiring accessories activities. The offers value the unit's equity and debt at €150-200M.
Jul. 31, 2013, 3:48 AM
- France's Schneider Electric (SBGSF.PK) has agreed to acquire U.K. based Invensys (IVNSF.PK) for £3.4B ($5.2B) in cash and shares.
- Schneider is offering 502 pence a share, or a 14% premium to Invensys' closing price of 440 pence on July 11, before the negotiations between the firms became public.
- The deal provides Schneider with software and control systems used by chemicals makers, oil refineries, and mining companies.
- Expects €400M in annual revenue synergies by 2018, which would increase earnings by €65M in that year. Schneider also forecasts €140M in annual cost savings by 2016, and €80M euros in annual tax savings over the first five years. (PR)
- Schneider H1 net profit €831M vs €876M a year earlier and vs consensus of €837M. (PR)
Jul. 30, 2013, 2:10 PM
- 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.
Jul. 15, 2013, 8:03 AM
GE (GE) is reportedly preparing a £3.5B bid for Invensys (IVNSF.PK) after France's Schneider Electric (SBGSF.PK) offered £3.3B for the U.K. industrial-software company last week. An auction could drive up Invensys' share price to 550 pence, valuing it at £3.6B. In the meantime, the firm's shares are +1.5% at 509.50 pence in London.| Jul. 15, 2013, 8:03 AM
Jul. 12, 2013, 4:14 AM
France's Schneider Electric (SBGSF.PK) has offered to acquire Britain's Invensys (IVNSF.PK) for £3.3B in cash and stock, or 505 pence a share. Invensys, which makes industrial software and control systems, is likely to recommend the bid and the companies are in talks. The U.K. firm has been a takeover target since the collapse of a deal with Emerson Electric in 2012. The question now is whether other suitors might be tempted to jump back in for Invensys, whose shares are +14.4% at 503.58 pence in London. (PR)| Jul. 12, 2013, 4:14 AM
Aug. 6, 2012, 2:50 PMAvago (AVGO +0.1%) is close to buying Schneider Electric's (SBGSF.PK) sensor division for ~$1B, Reuters reports. A purchase would put Avago, which currently has a $9B market cap and almost no debt, on better footing in the sensor market against Texas Instruments, STMicroelectronics, and a slew of Japanese rivals. | Aug. 6, 2012, 2:50 PM