Tyco about to close $110m deal?
By Martha Entwistle
Updated Thu May 19, 2011
Rueters on Wednesday reported that Tyco CEO Ed Breen said Tyco's closing on a "$110 million (deal) but it's technology that actually has revenue with it and that really fits in to one of our core platforms and will really give us a competitive advantage."
Guesses?
Breen made the remarks during an investor conference and provided no other details, according to the report. He did say :"We'll spend another $500 million to $600 million on bolt-on acquisitions over the next year," however.
Rueters notes, in the report that "Tyco talk" over the past month has centered on whether France's Schneider Electric might make a play for Tyco, or parts of Tyco. At the same investor conference, Schneider CEO Jean-Pascal Tricoire said, for like that third official time, that no large acquisitions are planned "for the foreseeable future," according to the report.
He's told us three times, does he need to tell us again?
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