France’s Schneider Electric has offered nearly $30 billion for Tyco International, The Wall Street Journal reports. The offer for the Swiss fire prevention products and security components maker, is being assessed by Tyco’s board.
In November 2010, Schneider appointed JP Morgan Chase and Bank of America Merrill Lynch to examine a Tyco acquisition. Schneider is in talks with lenders, including French banks, about financing a potential acquisition, adds Reuters.
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