Schneider Electric's talks with Bentley Systems have ended (updated)

Bentley Systems

22/05/2024 14:09

(Adds quote from Schneider statement in paragraph 2, details in
paragraphs 3-4, shares in paragraph 6)
       May 22 (Reuters) - Schneider Electric  SCHN.PA  said on
Wednesday that discussions with U.S. engineering software
produce Bentley Systems  BSY.O  regarding a potential "strategic
transaction" have ended.
    "Those discussions are now mutually terminated and no
transaction was agreed upon," Schneider said in a statement. 
    Reuters had reported in April that Bentley Systems was
exploring options including a sale after attracting acquisition
interest, and that Schneider was interested in a deal.
     Bentley, an engineering software company with a market
value of about $17 billion is family controlled through a
special class of shares. 
    The group formed a special committee of its board of
directors to explore options, sources close to the matter have
previously told Reuters.
    Schneider's shares were up by 0.47% at 1234 GMT,
outperforming France's blue chip CAC 40 index  .FCHI , which was
down 0.76%. 
    

 (Reporting by Olivier Sorgho and Mathieu Rosemain; Editing by
Christian Schmollinger and Jane Merriman)
 ((Olivier.Sorgho@thomsonreuters.com;))