France’s Schneider Electric SA, which has its U.S. headquarters in Palatine, has made a preliminary bid for approximately $30 billion for Tyco International Ltd., according to people familiar with the matter, hoping to draw the Swiss-based conglomerate to the negotiating table. Get the full story »
Tyco
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Schneider Electric weighs bid for Tyco
Schneider Electric, the world’s largest maker of voltage equipment, is considering a takeover offer for industrial conglomerate Tyco International Ltd, but the idea is at an early stage and no deal is imminent, Bloomberg reported.
Schneider is working with bankers to help it weigh up a potential purchase of Tyco, Bloomberg said on its website, citing people with knowledge of the matter that it did not identify. Get the full story »
Supreme Court tweaks part of Sarbanes-Oxley
The Supreme Court largely affirmed Monday the legitimacy of an accounting regulator created by a post-Enron antifraud law, striking down only a minor provision of it.
The Public Company Accounting Oversight Board was established in 2002 as part of the Sarbanes-Oxley law, which Congress passed after the Enron Corp. scandal exposed a wave of accounting chicanery used by some companies to pump up their stock prices during the late-1990s bull market. Get the full story »
