Schneider Electric (OTCMKTS: SBGSY) just made the biggest bet in its history. On Oct. 5, the French energy management giant agreed to buy PTC (NASDAQ: PTC) for about $22.6 billion in cash. That works out to $205 per share, a 42% premium to PTC's Oct. 2 close.
Investors, however, balked at the price tag. Schneider's Paris-listed shares fell nearly 10% on the news. The U.S.-traded American Depository Receipt (ADR) is down roughly 16% from its pre-deal level. PTC shares, meanwhile, jumped more than 33%.
