Schneider Electric Ends Deal Talks With Bentley Systems

Schneider Electric SE says talks with US engineering software maker Bentley Systems Inc. for a potential deal have been terminated by mutual agreement.

The two companies had held discussions as part of Schneider’s strategy to build up capabilities in industrial technology, potentially paving the way for one of the biggest takeovers of a US company by a French business.

Schneider said Wednesday no transaction was agreed and the company remains focused on its “consistent capital allocation priorities.”

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Elisabeth Behrmann in Munich at ebehrmann1@bloomberg.net

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