Eaton Emerges As Top Bidder For Larsen's Electrical, Automation Business - Source
20 Aprile 2011 - 12:43PM
Dow Jones News
U.S.-based industrial conglomerate Eaton Corp. (ETN) has emerged
as the highest bidder for buying Indian engineering company Larsen
& Toubro Ltd.'s (500510.BY) electrical and automation business,
a person familiar with the matter said Wednesday.
"Larsen expects about INR125 billion-INR140 billion for the
business," the person, who didn't wish to be identified, told Dow
Jones Newswires.
He said that apart from Eaton, Schneider Electric SA (SU.FR) is
also interested in buying the business. Both these companies are
currently conducting due diligence, he added.
Spokespersons for both Eaton and Schneider said they don't
comment on speculation.
- By Kenan Machado, Dow Jones Newswires; 91-11-4356-3358;
prasenjit.bhattacharya@dowjones.com
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