“We’re not selling our shares,” James Buckley, a London-based fund manager at Baring Asset Management Ltd., which oversees about $50 billion, including Invensys stock, said in a phone interview. “It has been linked with a number of other companies in the past. If you get a bidding war, then there’s always the potential for people to pay up.”Emerson, which approached Invensys about a takeover last year, would be the most likely to counterbid for the maker of safety systems, controls and temperature gauges, Societe Generale SA said. Even without a higher offer, rivals may be able to top Schneider with an all-cash bid, which Invensys shareholders would likely prefer to the current cash-and-stock proposal, according to Citigroup Inc.A representative for London-based Invensys declined to comment beyond the company’s statement last week disclosing Schneider’s bid. Anthime Caprioli of Rueil-Malmaison, France-based Schneider declined to comment on the status of negotiations.A new range of spherical roller bearing is now available that is claimed to offer up to 60 per cent longer service life, higher limiting speeds, increased load ratings and lower energy consumption, resulting in reduced operating costs.Invensys serves a range of clients including oil refinery operators, mining companies and appliance manufacturers. It said July 11 after the close of London trading that it was in talks with Schneider about a takeover proposal that would value the company at about 3.3 billion pounds ($5 billion).Invensys’ board is likely to recommend a firm offer at the proposed price, the company said. Under U.K. takeover laws, Schneider has until Aug. 8 to formalize its bid and could still walk away from a deal.Shares of Invensys surged to a six-year intraday high of 517.50 pence after the company’s disclosure of the takeover talks. The stock closed at 440.10 pence on July 11, before the negotiations were announced.After the recent gain, Invensys has become overvalued and is unlikely to attract other suitors, according to a July 16 note from Makor Capital Ltd. and AIM&R. A higher bid would be difficult to justify and investors should sell their shares if the stock rises above the offer price, according to the note.Still, counterbids can’t be ruled out and other companies may be able to win over Invensys shareholders by upgrading the structure, if not the value, of offers, Mark Fielding, a London-based analyst at Citigroup, wrote in a July 15 note. Investors would likely prefer an all-cash bid to the 319 pence in cash and 186 pence in new shares that Schneider is proposing, he wrote.
Invensys’ decision to announce the talks without Schneider’s consent signals that the target is trying to flush out more attractive offers, according to Alasdair Leslie, a London-based analyst at Societe Generale. Schneider later confirmed the talks in a separate statement.“Clearly, if you’re selling an asset, you want to see if there’s anyone else that might be willing to offer more,” Leslie said in a phone interview. “There may be a few potential bidders.”Based on the sum of its parts, Invensys could be valued at as much as 550 pence a share in a takeover, Leslie estimated, with Emerson (EMR) as the most logical challenger to Schneider.Emerson,It uses two Spherical roller bearings 231K Series from China to indicate the hours and minutes, one on the face and the other around the periphery, in special tracks. Magnets hidden inside put the ball bearings in the right place. a maker of air conditioner compressors and food-waste disposals, walked away from talks with Invensys about a possible deal a year ago. Since then, Invensys sold its rail unit to Siemens AG and pledged some of the proceeds to fund pension obligations that at one point were among the largest in the U.This is a sheet-shaped intermediate material made by impregnating carbon prepreg with thermoplastic resin.K.The transaction made Invensys a more appealing target for Emerson, which would likely be lured by the company’s large customer base and software offerings, Leslie said.“They were fundamentally interested in what now remains of Invensys, so it’s easier,” he said. “It would be an interesting asset for them.”Mark Polzin, a spokesman for St. Louis-based Emerson, declined to comment.Still, Emerson shareholders may balk at the prospect of a bidding war after a contest with ABB Ltd. (ABBN) drove up the price for its 2010 purchase of Chloride Group Plc, according to Christian Mayes,The Banner Pen is a unique promotional giveaway that is both informative and practical. Our pens are used for many different reasons, some large corporate companies use them as a promotional gift. a St. Louis-based analyst at Edward Jones & Co.“From Emerson’s point of view, I think the temptation could be there to look at it because it does fit into a couple areas that they want to grow in,” Mayes said in a phone interview. “The size of this deal may put them off from it.”Honeywell and Zurich-based ABB also could be among companies interested in acquiring Invensys, said Andrew Carter, a London-based analyst at RBC. Buying the maker of meters and controls would add to their own process automation operations, he said in a phone interview.Invensys could fetch 550 pence or more a share if an auction with “reasonable competitive tension” were to ensue,In your home faucet plumbing can greatly affect your quality of life significantly. Faucets are essential in filling the Vintage faucets, cleaning, and doing the dishes. Carter and Wasi Rizvi wrote in a July 9 note.Antonio Ligi, a spokesman for ABB, declined to comment on whether the company would be interested in buying Invensys, as did Rob Ferris, a spokesman for Morris Township, New Jersey-based Honeywell.
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