Invensys sees its stock rise
SHARES in Invensys are likely to be in focus today after a prominent US activist hedge fund snapped up a big stake in the engineer.
ValueAct Capital Management bought 8.16 per cent, becoming the second biggest shareholder after M&G Investment Management.
ValueAct paved the way for the break-up of Misys last year by mulling a bid for the software firm with CVC Capital Partners but then withdrew.
Invensys is selling its rail division to Siemens, retaining two divisions, providing control systems and software for domestic appliances and industry.
There has been speculation about a takeover by Emerson Electric of the US or France’s Schneider Electric. Invensys shares closed Friday ¾p up at 358½p.