May 13 Schneider Electric SA (SCHN.PA) is in
talks with private-equity firms about partnering on a $30
billion plus bid of Tyco International Ltd TYC.N, less than a
month after the French company had ruled out the takeover, the
New York Post said citing sources.
Last month, people familiar with the matter had told
Reuters France's Schneider held early discussions about buying
the Tyco. But, Schneider's CEO had later ruled out a deal of
that size. [ID:nLDE73J1X1]
The talks are still at a relatively early stage, and
France-based Schneider has not yet chosen the firms with which
it would partner, two sources close to the situation told the
There is also the possibility several PE firms will partner
and make their own offer for Tyco, the paper said citing a
"Our CEO expressed himself clearly at the time of our
earnings report on this topic and we have nothing to add,"
Schneider spokesman Anthime Caprioli said, referring to
Jean-Pascale Tricoire's firm denial last month of any plan for
large-scale acquisitions "now and in the foreseeable future."
Tyco was not immediately available for comment.
(Reporting by Aftab Ahmed in Bangalore, and Christian Plumb in
Paris; Editing by Derek Caney)