Rumour

Monday, January 12, 2004

Senior Invensys sources have reported that Siemens made a run at buying the company over the holidays. Apparently, the offer was rejected "because the Board wants more money". There was no information on the magnitude of of the offer.

Apparently, Invensys is now in a "major slash & burn mode" to improve the bottom-line numbers with the idea of getting a better price.

Some former insiders have also sent out probes relative to buying the Production Systems business (or parts of it). But, Invensys leadership seems at a bit of a loss as to how to proceed. Naturally, insiders will be valuing the businesses less than "outsiders", as they know all the problems, and will be bargain shopping.