Press digest for October 6
PTC•BT reportedly bought TalkTalk for £400 million, while Schneider Electric reportedly agreed to acquire PTC for $23.7 billion; Intesa Sanpaolo’s €34.5 billion bid for Monte dei Paschi gained shareholder backing, and Sainsbury’s reportedly held merger talks with Morrisons.
1. Reported deals
BT reportedly bought struggling rival TalkTalk out of administration for £400 million, with the deal protecting 2.5 million customers from potentially losing their services. Schneider Electric reportedly agreed to acquire U.S. engineering software provider PTC for $23.7 billion, its biggest takeover.
2. Bank bid and merger talks
The largest shareholder in Monte dei Paschi di Siena reportedly agreed to accept Intesa Sanpaolo’s improved €34.5 billion takeover offer. Sainsbury’s reportedly held merger talks with Morrisons earlier this year.
