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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
