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Business Latest News: Schneider Nears $5 Billion Invensys Deal

Wochit 1:03 mins

France's Schneider Electric is nearing a $5.07 billion deal to acquire British engineer Invensys and could announce the agreement at any moment. BMW, the world's biggest luxury carmaker has declined to give sales or production goals for the four-seat i3, to be followed early next year by a battery-powered i8 sports car. Sales chief Ian Robertson said, "We're targeting meaningful sales," in an electric-car market which BMW expects to grow to between 150,000 and 160,000 vehicles globally this year, from 7,000 in 2010. The advertising giant to be formed from the merger of Publicis and Omnicom may resolve any clash between its French and U.S. arms by taking on a more American identity, some industry observers said.

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