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Components | April 13, 2011

Schneider Electric eyes Tyco Intl.?

Rumour Alert: France-based Schneider Electric SA is said to have made a preliminary bid for Tyco International Ltd.
Without naming specific sources - people familiar with the situation - WSJ puts the bid at approximately USD 30 billion. "The board is studying the proposal," said one person familiar with the matter. The tentative bid "was a surprise," this person added.

In response to market rumors, Schneider Electric announced today that it is not currently in discussion with Tyco International regarding a potential strategic transaction between the two companies. Schneider Electric stated that it would make no further comment regarding this matter.

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