Schneider Backs Away from Tyco Deal

It seems that French company Schneider Electric's interest in purchasing Tyco TYC has waned to the point where both sides are doubtful a deal will be reached. David Faber of CNBC reported Friday that the deal was doomed by a "lack of cohesion" among Schneider's board of directors, causing Schneider to back off purchase talks. Tyco's stock has been up big this month, as takeover rumors swirled. Now that the purchase by Schneider seems doomed, will another company step up and buy Tyco? Will Tyco's stock say high absent a deal? Tyco is currently trading up $0.04 on the day to $51.39, a gain of 0.08%. The holding price might indicate investor confidence that some sort of deal, whether with Schneider or another company, may be in the works.