* Says had preliminary talks with Emerson and others
* Says no longer in talks with any suitors
* Shares spiked 27 pct on Wednesday on report of talks
LONDON, June 21 British engineer Invensys
said on Thursday it had held preliminary discussions
about a takeover with third parties including Emerson Electric
but that the talks had come to an end with no offer.
Bloomberg reported on Wednesday that Invensys was
considering a sale after Emerson expressed an interest in buying
some or all of the firm, sending shares in Invensys up 27
"The company confirms that, whilst it had previously
received a highly preliminary approach from Emerson Electric Co.
for the group, these discussions are no longer ongoing," it
"Furthermore there are no other discussions taking place in
relation to an offer for the group."
Invensys, which makes rail signalling, industrial systems
for nuclear power stations and oil and gas plants, and controls
for domestic appliances, did not name any other parties, but a
report last month said Siemens, ABB and
General Electric had also made informal contact.
The group, which had a market value of 2.09 billion pounds
($3.3 billion) after the stock spiked to a 10-month high on
Wednesday, has long been viewed as a takeover target because it
is smaller than most of its competitors, making it one of a few
tradable assets in the global engineering sector.
Former chief executive Ulf Henriksson speculated in November
2010 that its partner China Southern Rail could also do a deal
if the price was right, although the company later issued a
statement downplaying the comments.
Analysts have said the group's large pension liabilities are
a hurdle to any deal.