“It does have some impediments in terms of someone making a bid, in that it has a large underfunded pension scheme,” Sinden conceded, before adding: “There is a possibility that a predator or even the management themselves could come to an agreement with a specialist insurer and offload the pension liabilities.”
The estimates he gave for resolving the pension scheme were approximately £700 million.
The FTSE 250 engineering group, based in London, creates software used to run London Underground trains.
—By Matthew Clinch, Special to CNBC.com
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General Electric is a minority shareholder in NBCUniversal, parent of CNBC and CNBC.com . Neither Silverwind Securities nor Darren Sinden have personal or corporate holdings in Invensys.Page 2 of 3 | Prev Page | Next Page