Schneider Electric in talks to take over Bentley Systems
By Benjamin Chiou
Date: Friday 19 Apr 2024
(Sharecast News) - French industrial energy giant Schneider Electric on Friday announced that it was in discussions to take over US-listed software firm Bentley Systems in a deal that could be worth nearly $16bn.
While it highlighted that no deal is certain, Schneider Electric said it was exploring a "potential strategic transaction" with Bentley, which had a market cap of $15.6bn as of Thursday's close.
Shares in Bentley rose strongly on Thursday after the Wall Street Journal reported that talks between the two companies were taking place.
Under one of the proposals being tabled, according to insiders cited by the publication, Bentley would stay as a listed business.
Meanwhile, Reuters had reported that Bentley was open to takeover offers, though the founding family wasn't interested in an outright sale.
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