Invensys talks down loss to UK

City A.M. Reporter

NSYS yesterday said a possible takeover by Schneider would not represent a loss to British industry.

Chairman Sir Nigel Rudd told a shareholder meeting the FTSE 250 firm “just happens to have a headquarters in the UK”, and that its backers are from across the globe.

The engineering firm said trading was in line with forecasts and that talks with its French suitor are ongoing. Schneider has until 8 August to make an offer.