PTC surges after Schneider Electric agrees to $22.6 bln buyout deal

By Reuters News

** Shares of software firm PTC PTC.O rise 34.6% to $193.8 premarket

** France's Schneider Electric SCHN.PA agrees to buy PTC in an all-cash deal valuing co's equity at ~$22.6 bln

** The $205/share offer implying an enterprise value of $23.7 bln, represents a 42.3% premium to PTC's last closing price

** This is SCHN's largest acquisition ever, per LSEG data

** Deal continues SCHN's push into software, after co struck a deal to buy Cognite Holding, a privately held provider of AI software and industrial data, in June

** As of last close, PTC stock down 17.3% while SCHN rose 17.4% YTD

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.