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Invensys says not in bid talks after China report
July 2, 2012 / 9:16 AM / 5 years ago

Invensys says not in bid talks after China report

LONDON (Reuters) - Invensys ISYS.L is not in any takeover talks, a spokesman for the group said, after a newspaper reported China South Locomotive was in the early stages of planning to a move for the British engineering group, already its joint venture partner.

The Sunday Times had reported the majority state-owned train manufacturer was considering a takeover bid for Invensys, which makes rail signaling systems, without citing sources.

Invensys has been the frequent subject of takeover speculation. Last month, it confirmed it had received a “highly preliminary” approach from U.S. company Emerson Electric Co. but that these talks had ended.

It said at the time that no other discussions were taking place in relation to an offer for the group.

A spokesman for Invensys told Reuters on Monday that the company’s position had not changed since the June 21 statement.

In 2010, Invensys’ then-chief executive Ulf Henriksson made waves after he told The Daily Telegraph the company could be the target of a takeover by China Southern Rail.

His comments, and subsequent share price rise, forced the company to issue a statement denying it was in takeover talks.

Reporting by Helen Massy-Beresford; Editing by Jon Loades-Carter

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