NEW YORK, April 13 Schneider Electric SA
(SCHN.PA) is serious about its interest in Tyco International
Ltd TYC.N and remains in talks with lenders including French
banks about financing a potential transaction, people familiar
with the matter said on Wednesday.
Schneider's approach to the U.S. industrial conglomerate is
preliminary and it has yet to secure financing commitments for
a proposed transaction, these people said.
However, there is skepticism among some potential lenders
that such a deal could go through given the large amount of
financing required, and unclear fits between different
businesses of Schneider and Tyco, one of the sources said.
There are also Tyco businesses that Schneider does not want
to run, the source said. These people asked not to be
identified because the discussions are confidential.
(Reporting by Nadia Damouni and Soyoung Kim, editing by Gerald