Bid talks which got the market excited on Wednesday about Invensys, the maker of rail signalling and industrial automation systems, have hit the buffers already.
In response to press speculation about an approach from Emerson Electric for some of the company's assets, news of which leaked out on Wednesday, Invensys said talks with Emerson are no longer taking place.
Furthermore, while the company has been in talks with other interested parties from time to time about the sale of various bits of the company, it is not engaged in any such talks at present.
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The news is sure to take the steam out of the share price when trading starts on Thursday. The shares shot up by more than a quarter on Wednesday.
JH
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