France's Schneider Electric agreed to buy U.S. industrial-software maker PT C in an all-cash deal valued at $22.6 billion. The offer represents a 42% premium to PT C's last closing price, with Schneider offering $205 a share in cash. PT C's board decided to recommend that the company's shareholders approve the deal.
The acquisition aims to create one of the largest industrial-software portfolios at a time when the rise of artificial intelligence is reshaping customer needs, Schneider said. The move strengthens Schneider's position in the industrial software market as demand grows for AI-driven solutions. Updates to follow.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing