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Mon, Mar. 10, 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. 12, 2013, 4:14 AMFrance'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) | Comment!
Mar. 1, 2013, 6:19 PM
Sep. 6, 2012, 3:31 PMGoldman Sachs appears to be actively seeking a buyer for struggling power conversion and management company Power One (PWER -8.8%). The founders of the company reportedly turned down two offers for the company last year from Schneider Electric (SBGSY.PK) and GE, at prices substantially above the current market value. Other suitors potentially include Panasonic, as well as China’s GCL-Poly Energy. | Comment!
Oct. 17, 2011, 4:10 PM
Jun. 1, 2011, 4:51 AM
May. 13, 2011, 9:06 AM
Apr. 13, 2011, 2:27 PMAnother conflicting report on Schneider's (SBGSY.PK) purported interest in Tyco (TYC -0.8%) says the French firm is serious about a bid and has tapped potential lenders about financing a takeover. But lenders are skeptical that the proposed deal can be completed, due to the $30B-plus required and the mismatch of businesses between Schneider and Tyco. (earlier) | Comment!
Apr. 13, 2011, 7:42 AM
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