Schneider Electric SE is nearing a deal to acquire US-based engineering software developer PT C Inc. for more than $20 billion, according to a source familiar with the matter. The transaction could be announced as soon as early Monday morning, said the source, who asked not to be identified because the matter is private. Representatives for Schneider and PT C didn’t immediately respond to requests for comment. The Financial Times reported on the talks earlier on Sunday.
The deal, if completed, would be Schneider’s largest deal to date, data compiled by Bloomberg showed. Last month, the French conglomerate announced the €1.2 billion ($1.35 billion) acquisition of Shelly Group SE, a Bulgarian-based firm that makes smart devices for the home.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing