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.
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)
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.
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)
Avago (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.
Schneider Electric (SBGSF.PK) is reportedly weighing a takeover bid for Tyco (TYC) that would make the French company the world’s biggest maker of security systems. Tyco +6% premarket. Schneider -3.6% in European trading.