Schneider Electric agrees to buy PTC for $22.6B in cash

Schneider Electric will pay $205 per share in cash for industrial software maker PTC, an equity value of about $22.6B. (PTC newsroom; Schneider Electric press release (PDF); Yahoo Finance)

The deal implies an enterprise value of $23.7B and a 42.3% premium to PTC's last close. Both boards approved it; it needs PTC shareholder and regulatory approval and is expected to close by Q3 2027. Morgan Stanley and Societe Generale provided a committed bridge facility, to be refinanced with roughly EUR5-6B of equity and EUR16-17B of debt. (PTC newsroom; Schneider Electric press release (PDF); Yahoo Finance)