Invensys shares rocket on takeover approach

<p>Invensys is the subject of a massive takeover bid.</p>

The share price of Invensys has shot up today (July 12th) after a takeover approach was made for the firm.

France's Schneider Electric has made a cash plus shares offer for Invensys that values the company at £3.3 billion.

The share price of the firm was up by more than 15 per cent for the day at 16:19 BST.

Invensys' rocketing share price this afternoon has also proved to be good news for the FTSE 100 as a whole, which looks set to end the week on a high point.

The FTSE 100 was up by 0.07 per cent at 16:20 BST, although it had grown to as high as 6,583.90 at one point in the day's trading.

On a fairly flat day of trade for the index, its lowest point was just 6,540.24, indicating it has been a quiet end to the week for the FTSE 100.

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