Invensys Bidding May Yield Decade-High Price: Real M&A

Invensys Plc shareholders may be rewarded with a price not seen in a decade if Schneider Electric SA’s approach sparks a bidding war.

Shares of the British industrial technology company have traded above Schneider’s informal offer of 505 pence a share during each of the last three trading days, indicating some investors may be wagering on a higher bid. An auction, which may attract Emerson Electric Co. and Honeywell International Inc., could drive the price to 550 pence or more, Royal Bank of Canada said. The stock hasn’t traded that high since 2003.