New bid for Invensys?
UK: Controls group Invensys is reportedly the target of a possible bid from a Chinese train manufacturer.
Following the collapse of an approach from Emerson Electric last month, The Sunday Times has reported that the China South Locomotive & Rolling Stock Corp is in the early stages of planning a possible £2bn takeover bid for the group.
The Invensys group which includes air conditioning and refrigeration companies Eliwell, Ranco and Eberle.
On June 21, Invensys confirmed that it had been in preliminary discussions with third parties but that these discussions were no longer ongoing. 'Furthermore,' it said, 'there are no other discussions taking place in relation to an offer for the Group.'
Invensys has denied any approach from the Chinese company.