LONDON/NEW YORK – France's Schneider Electric is nearing a 3.3 billion pounds ($5.07 billion) deal to acquire British engineer Invensys and could announce the agreement at its results on Wednesday, three people with direct knowledge of the matter said.
Continue Reading Below
The structure of the share and cash deal is expected to remain roughly the same as the one initially presented earlier this month as no other bidder has emerged to challenge Schneider's bid, the sources said.
Schneider and Invensys declined to comment.
(Reporting by Sophie Sassard and Anjuli Davis in London and Soyoung Kim in New York; Editing by Steve Slater)