LONDON (Reuters) - Shares in Britain's Invensys (>> Invensys plc) rose 16 percent to 511 pence on Friday morning after the industrial automation company said it had received an approach from France's Schneider Electric (>> SCHNEIDER ELECTRIC) about an 505 pence a share offer.
The British company revealed the talks late on Thursday after the market closed, saying it was likely to recommend the offer to shareholders.
Shares in Schneider (>> SCHNEIDER ELECTRIC) opened down 3.6 percent.
(Reporting by Paul Sandle; editing by Kate Holton)