Monday, April 11, 2011

Tyco Rallies On Takeover Speculation

Shares of Tyco International Ltd. (NYSE: TYC) rallied more than 8% in Monday's premarket trading after Bloomberg reported that Schneider Electric SA is weighing a takeover offer for the Schaffhausen, Switzerland-based company. Schneider is working with bankers to help it assess a potential acquisition of Tyco, Bloomberg said, citing people familiar with the matter. . Schneider’s efforts are at an early stage and no deal is imminent, the people said. Tyco is the world’s biggest provider of industrial valves and fire-protection services and posted sales of $17 billion for the fiscal year ended in September. Stay tuned for more. 

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