Baan set to announce takeover by Invensys

LONDON: Dutch business software company Baan is set to announce an all-cash takeover by British engineering company Invensys Plc, industry sources said on Tuesday.

One of the sources told Reuters that a deal will be announced very soon and could even be unveiled as early as Wednesday when Invensys announces its full year results.

Shares in Baan closed at 2.62 euros, down 1.13 per cent on the Amsterdam Stock Exchange on Tuesday with Invensys closing 2-1/2 pence down at 263-1/2p in London.

Neither Baan nor Invensys were available for comment.

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