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Tuesday, Oct 157:15 AMSiemens makes progress on sale of units
Tuesday, Oct 157:15 AM| Comment!
- 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.
Wednesday, Jul 313:48 AMSchneider to buy Invensys for £3.4B
Wednesday, Jul 313:48 AM| Comment!
- 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)
Tuesday, Jul 302:10 PMSchneider reportedly nears $5B deal for Invensys
Tuesday, Jul 302:10 PM| Comment!
- 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.
Monday, Jul 158:03 AMGE (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. |Monday, Jul 158:03 AM| Comment!
Friday, Jul 124:14 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) |Friday, Jul 124:14 AM| Comment!
Monday, Aug 62012, 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. |Monday, Aug 62012, 2:50 PM| Comment!
Monday, Apr 112011, 8:05 AM