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Schneider Electric (OTCPK:SBGSF) is in talks to take control of engineering-software firm Bentley Systems (NASDAQ:BSY) in a transaction that may be valued at more than $15 billion.
The companies are holding early-stage talks for a transaction where Schneider would merge its software business with Bentley (BSY), according to a WSJ report late Thursday, which cited people familiar with the matter. Bentley would remain a public company in the deal.
Shares of family-owned Bentley (BSY) rose 4% on Thursday amid a Reuters report that the company was exploring a sale or other transaction amid takeover interest. Schneider Electric (OTCPK:SBGSF) and design software firm Cadence Design (CDNS) were said to have expressed interest in Bentley. The Bentley family isn’t interested in an outright sale, according to the WSJ report.
The Bentley family controls the company through a special class of shares. The company formed a special committee of its board to explore its options, including an outright sale or joint venture, according to the Reuters report.
