Schneider Electric SA agreed to buy the U.K.’s Invensys plc for 3.4 billion pounds ($5.2 billion) to add software and control systems used by chemicals makers, oil refineries, and mining companies.

The world’s biggest maker of low- and medium-voltage power gear is offering the equivalent of 502 pence a share, with shareholders able to alter the proportions of cash and shares they receive, said Schneider, based in Rueil-Malmaison near Paris. Invensys rose as high as 505 pence, and traded 1.5 percent higher at 498.30 pence as of 2:09 p.m. in London.

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