France's Schneider Electric SA (SCHN.PA) is serious about buying Tyco International Ltd (TYC.N), but lenders needed to finance a transaction above $30 billion are skeptical a deal for the U.S. conglomerate can be pulled off. Schneider has approached lenders, including French banks, about financing a potential takeover, two people familiar with the matter said. The approach is preliminary and the French company has yet to secure commitment letters from banks, one source said. But potential lenders questioned if the proposed deal -- which could range between $30 billion and $35 billion -- will be completed, due to the large financing required and the mismatch of businesses between Schneider and Tyco, one of the people said. Schneider Electric said earlier it, "is not currently in discussion with Tyco International regarding a potential strategic transaction between the two companies."
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