The business news site reported earlier this week: “Schneider Electric SA is studying a takeover offer for Tyco International Ltd that would make the French company the world’s biggest manufacturer of security systems.”
As a direct result of the reports, Tyco’s shares rose to their highest level since 2009.
However, Schneider then released a statement saying that it’s “not currently in discussion with Tyco International regarding a potential strategic transaction between the two companies”. This followed a significant drop in Schneider’s own share price.
According to Bloomberg, speculation remains that Tyco International is now a likely target for acquisition (whether that’s by Schneider or others) or break up.
