Invensys takeover close at hand

Signal and control maker Invensys is reported to be subject to increasing interest from potential bidders.

Siemens NYSE: SI, General Electric NYSE: GE, ABB and Emerson are all said to have approached the Smart technology manufacturer in the past few weeks, although no official offer has been tabled, reports City AM.

These four companies in particular have been repeatedly linked to Invensys over the last two years, with traders speculating in autumn 2010 that an offer could come in at up to 400p per share.

The British company currently has a market cap of £1.65bn, at a share price of 203p, but it is expected a bidding war could push the price past the £2bn mark.

Invensys publishes its full year results this Thursday, following a profit warning in January that forecast a £60m cut in operating profits.

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