Earlier, Schneider Electric (SBGSY) announced that, as stated in its press release dated April 19, the company was holding discussions with Bentley Systems (BSY) with regards to a potential strategic transaction. “Those discussions are now mutually terminated and no transaction was agreed upon. Schneider Electric remains focused on its consistent capital allocation priorities. Regarding inorganic development, the Group maintains that it will remain agile and opportunistic. However, the Group reiterates the need for a disciplined approach to value creation for stakeholders in any potential strategic transaction. The Group will not provide further details regarding the preliminary discussions or proposed transaction,” the company stated. In midday trading following the announcement, Bentley shares have fallen $3.97, or 7%, to $52.75.
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