Schneider Electric is in advanced talks to buy US engineering software provider PTC for about $20bn in a deal that would be the French industrial conglomerate’s largest acquisition, according to people with knowledge of the matter.

Schneider Electric will pay $205 a share for PTC, a 42% premium, in its largest acquisition. The deal is due to close by Q3 2027.

France's Schneider Electric said on Monday it has agreed to buy PTC in an all-cash deal for $205 per share, valuing PTC's equity at about $22.6 billion.

France’s Schneider Electric is nearing a deal to buy US software group PTC for about $20 billion, the Financial Times reported on Sunday citing people with knowledge of the matter. A deal may be announced as soon as Monday, the newspaper said, adding that discussions between the two companies were ongoing and there was no certainty they would result in a deal. STAY UP TO DATE WITH THE LATEST NEWS BY SUBSCRIBING TO MORNING REPORT NEWSLETTER...

Cenovus ​Energy said ‌on Monday ​it ​would acquire ⁠Athabasca ​Oil in ​a cash-and-stock transaction ​valuing ​the Canadian ‌oil ⁠producer at an ​implied ​enterprise ⁠value of $5.7 ​billion.

Cenovus CEO Jon McKenzie says Athabasca's high-quality, long-life assets fit the company's portfolio and provide a clear opportunity to improve performance, grow production and create long-term shareholder value.

Cenovus Energy agreed to acquire Athabasca Oil in a C$5.7 billion cash-and-stock deal, adding about 45,000 barrels of daily production and expanding its Alberta oil sands operations. The companies expect the transaction to close in December 2026,

Cenovus Energy (CVE) said Monday it agreed to acquire Athabasca Oil (ATHOF) in a cash-and-stock deal valued at ~$5.7B, representing a 14% premium to Athabasca's 20-day volume-weighted average trading price.

Some see record oil production and more alternative routes for delivery once the Strait of Hormuz fully opens.

The world’s oil stockpiles are now “scarily thin”, the chief executive of Saudi Aramco said, adding that it would take up to two years to rebuild inventories depleted during the Middle East conflict.

Saudi Aramco's CEO warned it could take up to two years to rebuild global oil inventories, saying the squeeze could worsen as the U.S.-Iran war continues.

The squeeze on supplies of crude ​oil and refined fuels is set ‌to worsen, and refilling global stockpiles tapped as an emergency measure might take two ​years, Saudi Aramco Chief Executive ​Amin Nasser told the Energy Intelligence ⁠conference in London on Monday.

Tens of thousands ⁠of ⁠people took to the ⁠streets of Madrid and other Spanish cities on ​Saturday as they stepped up demands for action to tackle a ‌mounting housing crisis after government ‌measures were struck down by the opposition.

Tens of thousands of people took to the streets of Madrid, Valencia and other Spanish cities on Saturday (October 3) demanding action over a housing crisis, after government measures were struck down by the opposition on Friday.

More than 50 protests are planned to take place on Saturday after the government failed to get emergency legislation through parliament.

Mass demonstrations are planned in cities across Spain to demand action on the country's housing crisis. The largest is expected in Madrid, where protesters have been camping out in a central square.