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Schneider Electric (OTC:SBGSF) Stock, Option Chain

Schneider Electric is a leading global supplier of electrical and industrial automation equipment. The group has four end markets: buildings, data centers, infrastructure, and industry, each of which, relies on Schneider's products and solutions to ensure their operations run safely and efficiently. Schneider sells its products via distributors (45% of revenue), direct to customers (40% of revenue), and the remainder through other channels such as panel builders or system integrators. The group's largest geographic markets are the US, China, and India.

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Johannes Huth, pivotal figure in KKR&#39;s European ventures, retires after 25 years, leaving legacy of strategic acquisitions and leadership roles.

KKR&#39;s Johannes Huth Retires After Pioneering European Deals - Details Here

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Last week&#39;s top performers included United Airlines, Bentley Systems, Progressive Corp and Morgan Stanley.

Tracking Last Week&#39;s Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio? (April 13-20, 2024)

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Schneider Electric and Bentley Systems are in talks, hinting at a major shift in engineering software. The French industrial leader eyes Bentley&#39;s renowned solutions, with a potential merger valued at over $15 billion,. Despite uncertainties, this move underscores Schneider&#39;s strategic drive, echoing its history of aggressive acquisitions to fortify its software arm against industry titans.

What&#39;s Going On With Bentley Systems Stock Amid Multibillion-Dollar Merger Talks?

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KKR &amp; Co. Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) Johannes Huth, known for leading key European deals,<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39461436/kkr-eyes-20b-new-north-america-fund-in-tough-market-report" rel="noreferrer noopener"> is retiring after 25 years with the private equity firm</a>.
According to a <a target="_blank" href="https://www.linkedin.com/posts/johannes-huth-61b170b0_today-i-start-a-new-chapter-in-my-life-after-activity-7211284645974343680-2VRs/?utm_source=share&amp;utm_medium=member_ios" rel="noreferrer noopener">LinkedIn Post</a>, Johannes Huth, based in London, is stepping down from his roles as KKR&#8217;s Chairman for Europe, the Middle East, and Africa and an active partner.
Huth joined the private equity firm in 1999 after receiving an unexpected call from Henry Kravis, the co-founder of KKR who currently serves as co-executive chairman, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-25/kkr-s-emea-chairman-johannes-huth-retires-after-25-years-at-firm?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reported</a>.
At KKR, Huth&#8217;s prominent transactions include the acquisition and subsequent listing of defense supplier Hensoldt, as well as the purchase of Axel Springer in Germany.
He also led efforts in acquiring French electronics components firm Legrand SA from Schneider Electric SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSF#OTC">SBGSF</a>) and UK drugstore chain Boots, purchased with billionaire Stefano Pessina and later sold to Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), Bloomberg added. Additionally, he contributed to KKR&#8217;s investments in Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) and Wella.
He will continue in a senior advisory role and serve on the boards of hedge fund Marshall Wace, media company Axel Springer, and vacation parks group Roompot.
&#8220;This step will allow me to focus on the next phase of my life, including investing my own capital, and spending more time on my charitable and many other personal interests,&#8221; Huth added.
KKR stated that Huth has been integral to its leadership team for a significant period, Bloomberg added.
&#8220;As a colleague, friend and trusted partner to many, his impact cannot be understated,&#8221; the firm said, the report read. &#8220;We are pleased to continue our 25+ year partnership with Johannes as he transitions to this new chapter at KKR,&#8221; Bloomberg added.
Price Action: KKR shares are trading lower by 0.64% to $106.78 at last check Tuesday.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39481191/warren-buffets-berkshire-drops-byd-stake-despite-ev-leader-seeing-record-sales" target="_blank" rel="noreferrer noopener">Warren Buffet&#8217;s Berkshire Drops BYD Stake Despite EV Leader Seeing Record Sales</a>

KKR's Johannes Huth Retires After Pioneering European Deals - Details Here

These seven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>United Airlines Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) surged 21.79% last week after reporting first-quarter earnings. Revenue of $12.539 billion beat the consensus estimate of $12.4 billion, and adjusted EPS loss of $(0.15)<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38291030/why-united-airlines-stock-is-rising-wednesday" rel="noreferrer noopener">&nbsp;beat the estimate of $(0.57)</a>. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/UAL/analyst-ratings" rel="noreferrer noopener">raised their forecasts</a>&nbsp;for the stock.</li>
<li>UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) increased 12.43% during the week thanks to better-than-expected revenue in the first quarter. The company is still dealing with the cyberattack on its subsidiary, Change <a href="https://www.benzinga.com/news/earnings/24/04/38267213/investors-cheer-unitedhealths-q1-earnings-despite-cyberattack-fallout-taking-872m-hit-from-hack" target="_blank" rel="noreferrer noopener">Healthcare, in February</a>.</li>
<li>Genuine Parts Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) stock gained 10.07% after it reported better-than-expected first-quarter earnings&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38316106/why-genuine-parts-shares-are-rising-today-after-q1-earnings" rel="noreferrer noopener">and boosted its annual profit outlook</a>.&nbsp;</li>
<li>Bentley Systems, Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) stock rose 7.94% last week. The French industrial giant Schneider Electric SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSY#OTC">SBGSY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSF#OTC">SBGSF</a>) reportedly confirmed discussions of a potential <a href="https://www.benzinga.com/markets/equities/24/04/38333524/whats-going-on-with-bentley-systems-stock-amid-multibillion-dollar-merger-talks" target="_blank" rel="noreferrer noopener">acquisition of the company</a>.</li>
<li>Elevance Health, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) stock gained 5.15% last week after the company reported $2.2B in first-quarter net profit despite a 21% drop in Medicaid enrollment and raised its annual guidance. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/ELV/analyst-ratings" rel="noreferrer noopener">raised their forecasts</a>&nbsp;on the stock.</li>
<li>Progressive Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) stock rose 3.34% in the last week after the company clocked 19% year-over-year growth in first-quarter Net Premiums. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/PGR/analyst-ratings" rel="noreferrer noopener">raised their forecasts</a>&nbsp;on the stock.</li>
<li>Morgan Stanley&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) stock gained 3.3% last week after it reported better-than-expected first-quarter results. Its investment banking&nbsp;<a href="https://www.benzinga.com//node/38272690" target="_blank" rel="noreferrer noopener">revenue grew 16% year over year</a>. The banking giant also&nbsp;<a href="https://www.benzinga.com//node/38287804" target="_blank" rel="noreferrer noopener">decided to slash jobs</a>&nbsp;in the APC region.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/04/38348564/lets-spill-the-tea-top-consumer-tech-news-you-should-know-from-last-week">Let&#8217;s Spill The Tea: Top Consumer Tech News From Last Week That You Should Know</a>
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Tracking Last Week's Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio? (April 13-20, 2024)

The French industrial giant&nbsp;Schneider Electric&nbsp;SE&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSY#OTC">SBGSY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSF#OTC">SBGSF</a>) has&nbsp;<a target="_blank" href="https://www.se.com/ww/en/assets/564/document/465961/schneider-electric-press-release-19-04-2024.pdf" rel="noreferrer noopener">confirmed&nbsp;</a>holding discussions for a potential acquisition of&nbsp;Bentley Systems&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>), a company known for its engineering software solutions.&nbsp;
As per the Schneider Electric statement, discussions regarding a potential transaction remain at a preliminary stage, emphasizing the lack of certainty regarding the outcome of these talks.
Bentley Systems also acknowledged the&nbsp;public statement&nbsp;made today by Schneider Electric&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38331965" rel="noreferrer noopener">in response to recent market speculation.</a>
Earlier, The&nbsp;Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/business/deals/schneider-electric-in-talks-to-take-control-of-bentley-systems-d0aad58f?mod=hp_lista_pos2" rel="noreferrer noopener">reported&nbsp;</a>that Schneider Electric and Bentley Systems are considering merging Schneider&#8217;s software business with Bentley, potentially resulting in a deal exceeding $15 billion.&nbsp;
Despite the potential merger, Bentley&nbsp;is expected&nbsp;to remain a publicly traded entity, albeit significantly&nbsp;larger&nbsp;than before.
Bentley Systems, a family-controlled company co-founded by brothers Keith and Barry Bentley in 1984, specializes in providing software for structural and civil engineers involved in infrastructure projects.
Their software&nbsp;is utilized&nbsp;across various sectors, including transportation, water treatment, and construction.
With an annual revenue surpassing $1 billion, Bentley Systems went public in 2020. The recent leadership transition saw Chief Executive Greg Bentley assuming the role of executive chair of the board of directors, with Nicholas Cumins set to become the<a target="_blank" href="https://www.benzinga.com//node/37867934" rel="noreferrer noopener">&nbsp;new chief executive effective July 1.</a>
According to the report, Schneider Electric, valued at approximately $127 billion, has a history of strategic acquisitions to bolster its industrial software portfolio, aiming to compete with industry giants like&nbsp;Siemens&nbsp;AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SIEGY#OTC">SIEGY</a>) and&nbsp;Rockwell Automation Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>).
The potential acquisition of Bentley Systems follows Schneider&#8217;s earlier move in 2017 when it acquired the British&nbsp;engineering-software&nbsp;provider&nbsp;Aveva Group.
Price Action: BSY, which closed higher by 3.89% at $52.06 on Thursday, is trading lower by 0.12% at $52 premarket Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

What's Going On With Bentley Systems Stock Amid Multibillion-Dollar Merger Talks?

Bentley does not publicly comment on market rumors or speculation and does not intend to comment on this matter. Earlier Schneider Electric confirmed that, as part of its continuous exploration of opportunities in furtherance of its One Software strategy, it has been holding discussions with Bentley Systems with regards to a potential strategic transaction.

Bentley Systems Acknowledges Public Statement Made Today By Schneider Electric In Response To Recent Market Speculation On Potential Strategic Transaction Discussions

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/09/28940841/ftx-and-binance-reportedly-in-the-lead-to-purchase-voyager-digital-assets" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Sam Bankman-Fried&#39;s FTX, Binance Reportedly In The Lead To Buy Voyager Digital&#39;s Assets</a>
<ul>
<li>The assets of defunct cryptocurrency lender Voyager Digital Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vygvq#OTC">VYGVQ</a>) have attracted the highest bids from cryptocurrency exchanges FTX and Binance.</li>
<li>The current offer from Binance is around $50 million, which is only marginally higher than the rival offer from FTX, led by Sam Bankman-Fried. However, neither offer has been accepted as of yet.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/28943566/amazons-1-7b-proposed-purchase-of-irobot-invites-regulatory-attention" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Attention</a>
<ul>
<li>Federal antitrust enforcers investigated Amazon.com Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) proposal to buy Roomba maker iRobot Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irbt#NASDAQ">IRBT</a>).</li>
<li>Roomba dominates the smart vacuum market with a 75% market share by revenue in the U.S.</li>
<li>The FTC formally requested documents from both companies explaining the proposed $1.7 billion deal&#39;s purpose and rationale.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28944765/boeing-to-axe-150-finance-jobs-in-us-following-flight-debacles" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing To Axe 150 Finance Jobs In US Following Flight Debacles</a>
<ul>
<li>Boeing Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) shared plans to cut 150 finance jobs in the U.S. in 2022 to streamline its corporate structure and focus on manufacturing and product development.</li>
<li>Boeing ramped its workforce by 10,000 earlier this year and its engineering and manufacturing departments.</li>
<li>Following two 737 MAX crashes in 2018 and 2019, the Federal Aviation Administration (FAA) pledged to scrutinize Boeing.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/09/28945501/cvs-health-walmart-settle-west-virginia-opioid-lawsuit-walgreens-to-face-trial-next-year-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CVS Health, Walmart Settle West Virginia Opioid Lawsuit, Walgreens To Face Trial Next Year</a>
<ul>
<li>CVS Health Corp (NYSE: CVS) and Walmart Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) will pay $147.5 million to settle lawsuits regarding West Virginia&#39;s opioid crisis, with CVS shelling out $82.5 million and Walmart approximately $65 million.</li>
<li>Walgreens Boots Alliance Inc has not settled, and a trial has been rescheduled for June 2023, with Kroger Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kr#NYSE">KR</a>) also being a defendant in the rescheduled trial.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28945110/general-electric-hires-mavi-zingoni-as-head-of-power-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">General Electric Hires Mavi Zingoni As Head Of Power Business</a>
<ul>
<li>General Electric Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>) has appointed Mavi Zingoni as the Chief Executive Officer of its power units.</li>
<li>Zingoni will report to Scott Strazik, who heads the company&#39;s portfolio of energy businesses.</li>
<li>Zingoni will be based in the U.S. and will start work on January 1, 2023.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/28945453/pressure-mount-on-us-to-blacklist-this-top-chinese-chipmaker-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pressure Mounts On US To Blacklist This Top Chinese Chipmaker</a>
<ul>
<li>Top U.S. lawmakers urged the Biden administration to blacklist Chinese semiconductor company Yangtze Memory Technologies Co for allegedly violating export controls by supplying Huawei Technologies Co, Ltd.</li>
<li>As per the lawmakers, YMTC has provided Nand memory chips for Huawei&#39;s new flagship foldable phone, Mate Xs 2.</li>
<li>In 2019, the U.S. blacklisted Huawei citing national security risks.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/09/28943968/schneider-electric-to-buyout-uk-software-developer-aveva-at-40-premium" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Schneider Electric To Buyout UK Software Developer Aveva At 40% Premium</a>
<ul>
<li>French industrial conglomerate Schneider Electric SE (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbgsf#OTC">SBGSF</a>) has agreed to purchase the rest of Aveva Group Plc (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/avevf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AVEVF</a>) in a deal that values the U.K. software developer&#39;s equity at &pound;9.5 billion.</li>
<li>The purchase price implies a premium of 40% from before Schneider confirmed exploring a potential buyout in late August. Shares in Aveva closed up at &pound;30.38 on September 20.</li>
<li>Schneider would snap the remaining 40% of Aveva it did not own for &pound;31 a share.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28943176/new-zealand-launches-christchurch-call-anti-online-hate-project-funded-by-us-twitter-and-microsoft" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Twitter, Microsoft To Invest Toward Christchurch Call Anti-Online Hate Project, Says New Zealand PM</a>
<ul>
<li>New Zealand Prime Minister Jacinda Ardern announced a joint research initiative on Wednesday under the Christchurch Call anti-online hate project with the United States, Twitter Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/twtr#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TWTR</a>), and Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>). The anti-online hate project was launched in the wake of the mass shootings at two Christchurch mosques in 2019.</li>
<li>Ardern said New Zealand, the U.S., Twitter, and Microsoft Corporation would invest an undisclosed sum in developing new technology. Together, they will work on finding out how algorithms drive people towards violent and terrorist content online.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28944145/juul-says-fda-deliberately-withheld-scientific-materials-related-to-sales-ban-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Juul Sues FDA, Accuses It Deliberately Withheld Scientific Materials Related To Sales Ban</a>
<ul>
<li>E-cigarette maker Juul Labs Inc, backed by Altria Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mo#NYSE">MO</a>), filed a complaint accusing the FDA&#39;s refusal to disclose documents supporting its banning order on the company&#39;s products.</li>
<li>In June, the agency ordered Juul to stop selling and distributing all its products marketed in the U.S., saying the company&#39;s products played a disproportionate role in the rise in youth vaping.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28944511/fda-concludes-oversight-shortcomings-after-infant-formula-internal-review" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Concludes Oversight Shortcomings After Infant Formula Internal Review</a>
<ul>
<li>The FDA concluded an internal review of agency actions related to the U.S. infant formula supply.</li>
<li>The agency released a 10-page report, which is the result of information collected from more than 40 interviews with more than 60 FDA staff and leadership directly involved with the events that transpired. </li>
<li>The review found numerous shortcomings hampered the agency&#39;s response to the U.S. infant formula supply problems this year.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28944138/beyond-meat-suspends-coo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Beyond Meat Suspends COO Following Arrest Over Nose Biting Incident</a>
<ul>
<li>Beyond Meat Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bynd#NASDAQ">BYND</a>) has immediately suspended its Chief Operating Officer, Doug Ramsey.</li>
<li>Further, the company&#39;s operations activities will be overseen on an interim basis by Jonathan Nelson, Senior Vice President, Manufacturing Operations.</li>
<li>The plant-based meat substitute producer&#39;s COO was reportedly arrested over the weekend after biting a man&#39;s nose after a college football game.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28942643/chinese-battery-maker-plans-3-6-billion-michigan-plant-expected-to-create-2-000-jobs" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Volkswagen&#39;s Chinese EV Battery Maker Plans $3.6B Michigan Plant That Could Create Up To 2,000 Jobs</a>
<ul>
<li>Chinese battery maker Guoxuan High Tech Co is planning to set up a Michigan that is expected to create 2,000 new jobs.</li>
<li>Gotion Inc, the U.S. subsidiary of the battery maker, would produce battery components at the facility that could draw up to $3.6 billion in investment. </li>
<li>The report added that the new facility would initially lead to about 500 jobs and up to 2,000 jobs over the next decade.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28943287/tesla-battery-pack-fire-at-pg-e-facility-that-closed-iconic-california-highway-brought-under-control" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla Megapack Battery Fire In California That Shut Major Highway Is Now &#39;Fully Controlled&#39;</a>
<ul>
<li>A Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) Megapack battery installed at utility PG&amp;E Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pcg#NYSE">PCG</a>) California storage facility caught fire early on Tuesday. At the time of writing, the fire had been &quot;fully controlled.&quot;</li>
<li>PG&amp;E said that around 1:30 a.m., it became aware of a fire in one Tesla Megapack at the Elkhorn Battery Storage in Moss Landing, Monterey County, California. Following the incident, the facility was disconnected from the grid to stop the fire spread and provide a safe area for emergency response personnel.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28942773/youtube-does-a-tiktok-will-put-ads-on-shorts-and-share-revenue-with-creators" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YouTube Does A TikTok: Shorts Creators Will Now Get Share Of Ad Revenue</a>
<ul>
<li>Alphabet Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) video streaming platform YouTube announced &quot;new ways&quot; for its Shorts creators to make money on Tuesday.</li>
<li>The Sundar Pichai-led company said in a blog post that beginning in early 2023, Shorts-focused creators can apply to its YouTube Partner Program (YPP) as long as they meet a threshold of 1,000 subscribers and 10 million Shorts views over 90 days.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/09/28944719/german-gas-giant-uniper-nationalized-in-8b-deal-to-secure-energy-supply" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Germany Moves To Nationalize Gas Giant Uniper In &euro;8B Deal To Avert Energy Supply Crisis</a>
<ul>
<li>Germany will nationalize Uniper SE (OTC: UNPRF) in a bid to save the country&#39;s largest gas importer, which was hit hard by Russian natural-gas cuts to Europe.</li>
<li>The German government would take a 99% stake in the energy giant and inject &euro;8 billion. </li>
<li>The Federal Government will acquire the Uniper shares currently held by Fortum Oyj (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/fojcy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FOJCY</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/fojcf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FOJCF</a>) for &euro;1.70 per share.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/09/28945347/novartis-to-petition-u-s-supreme-court-to-uphold-patent-validity-for-multiple-sclerosis-drug-gile" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Novartis To Petition US Supreme Court To Uphold Patent Validity For Multiple Sclerosis Drug, Gilenya</a>
<ul>
<li>Swiss drug major Novartis AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvs#NYSE">NVS</a>) plans to petition the U.S. Supreme Court to uphold the validity of the Gilenya (fingolimod) dosing regimen patent.</li>
<li>With the latest decision, HEC and other generic application filers with FDA approval will potentially be able to launch a generic version of 0.5mg Gilenya imminently.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28944534/french-billionaire-xavier-niel-scoops-2-5-stake-in-vodafone" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">French Billionaire Xavier Niel Scoops 2.5% Stake In Vodafone</a>
<ul>
<li>French billionaire Xavier Niel-backed investment vehicle Atlas Investissement procured a 2.5% stake in British telecom giant Vodafone Group Plc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vod#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VOD</a>).</li>
<li>Atlas Investissement saw opportunities to accelerate the streamlining of Vodafone&#39;s footprint and the separation of its infrastructure assets, further reduce costs, improve profitability, and accelerate broadband development in Germany and other geographies.</li>
<li>The stake is worth &pound;752 million.</li>
</ul>
Photo via Wikimedia Commons

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Schneider Electric To Buyout UK Software Developer Aveva At 40% Premium

<ul>
<li>Siemens AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/siegy#OTC">SIEGY</a>) is exploring acquisitions and investments in building management software, electric vehicle charging as office blocks and apartments become more connected, and drivers switch to e-vehicles,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/technology/siemens-smart-infrastructure-targets-acquisitions-speed-growth-2021-08-16/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reported</a>.</li>
<li>Siemens aims to drive its Smart Infrastructure (SI) division by tapping its vast software base and software developers. It is also targeting the e-mobility business.</li>
<li>It has recently moved beyond its traditional customers to expand its base by &euro;120 billion annually.</li>
<li>Siemens spent &euro;550 million in 2021 on a software acquisition for its mobility business and $700 million on electrical component supplier Supplyframe.</li>
<li>It aims to win market share from&nbsp;ABB Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abb#NYSE">ABB</a>),&nbsp;Schneider Electric SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbgsf#OTC">SBGSF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbgsy#OTC">SBGSY</a>),&nbsp;Honeywell International Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hon#NASDAQ">HON</a>),&nbsp;Johnson Controls International PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jci#NYSE">JCI</a>) by growing revenue between 4% - 6% in the medium term, which is above the market rate of 3%.</li>
<li>Siemens aims to double the share of SI revenue from its digital business to nearly 10% by 2025. The diversification justifies the higher software margins.</li>
<li>Price Action:&nbsp;SIEGY shares closed lower by 0.01% at $84 on Monday.</li>
</ul>

How Siemens Aims To Grab Market Share From ABB, Schneider Electric, Honeywell, Johnson Controls?

<ul>
<li>Siemens AG&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/siegy#OTC">SIEGY</a>) new CEO Roland Busch aims to raise the manufacturer&#39;s valuation by doubling down on software,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-06-24/siemens-raises-profit-targets-plans-3-6-billion-share-buyback?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
<li>Siemens is eyeing acquisitions of software-focused companies to foray into new markets adjacent to its existing businesses that offer up to $143 billion in potential revenue.</li>
<li>Busch estimated FY20 software revenue of &euro;5.3 billion to grow at a CAGR of 10% until 2025, beating Siemens&#39;s hardware revenue growth.</li>
<li>Siemens now views Silicon Valley giants pioneered cloud-based software suites as the path to a higher valuation.</li>
<li>Siemens raised financial targets and announced its first share buyback since 2015. It will purchase up to &euro;3 billion of stock over five years from 2022.</li>
<li>The share price has gained since Busch assumed office in Feb. amid the spinoffs of Siemens Healthineers AG and Siemens Energy AG. However, the profit margins continue to lag versus peers like&nbsp;Schneider Electric SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbgsf#OTC">SBGSF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbgsy#OTC">SBGSY</a>).</li>
<li>Siemens agreed to acquire supply-chain management firm&nbsp;SupplyFrame&nbsp;in May for $700 million. SupplyFrame provides intelligence on factory outages and material-cost changes.</li>
<li>Siemens on Thursday confirmed its FY21 earnings guidance and raised profit targets for its Smart Infrastructure unit and its Mobility business.</li>
<li>Siemens raised its targets in May on the back of a booming Chinese economy and a recovery in the global automotive sector.</li>
<li>Price action:&nbsp;SIEGY shares closed lower by 0.02% at $81.64 on Wednesday.</li>
</ul>

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