Shares fall after Invensys says takeover talks have ended

By PETER RANSCOMBE
Published on 21/06/2012 09:39

Shares in Invensys fell by up to 20 per cent this morning after the FTSE 250 software firm revealed that “highly-preliminary” talks about a possible takeover offer for the company had ended.

The stock had jumped 27 per cent yesterday amid takeover rumours, with the company releasing a statement this morning to pour cold water over the market chatter.

As well as confirming that it had been in discussions regarding possible bids for the company, Invensys revealed that US technology firm Emerson Electric had also made a “highly-preliminary approach” for the group but that those talks had now also ended.

Invensys added: “Furthermore there are no other discussions taking place in relation to an offer for the group.”