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Schneider ‘Not Currently’ in Tyco Talks After Stock Decline

Schneider Electric SA said it’s “not currently” in takeover talks with Tyco International Ltd. after preliminary discussions between the companies leaked in the media and sent Schneider’s shares down 7 percent.

Schneider held preliminary talks with Tyco after approaching the company earlier this year, said three people with knowledge of the matter, who spoke on condition of anonymity because the talks are private. Schneider hasn’t ruled out pursuing Tyco, said another person.