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UK/France: Strategic engineering, power merger inked for $5B

By  |  July 31, 2013
UK/France: Strategic engineering, power merger inked for $5B

UK-based software engineering conglomerate Invensys announced unanimous approval by its board of directors to be taken over by France-based Schneider Electric in a deal valued at about $5.16 billion. Reports say Schneider’s move is part of a larger effort to strengthen its position within the software provision sector; Invensys specializes in software that runs power stations and chemical plants and, say reports, is often eyed for takeover in the industry. The deal remains subject to shareholder approval.

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    Full Content: The Telegraph

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