Schneider and Tyco Denying Rumors of Tyco Takeover

There was a controversy on May 13 that a France company Schneider was in talks with public equity firms, to make a bid of $30 billion on Tyco to takeover the company. Tyco’s current market capitalization is $23.2 billion, so a bid of $30 billion would represent a 29.2 percent premium to Tyco’s current capital. However, there are denials from both of the companies regarding this issue.

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Schneider denies report of Tyco takeover talks