Shares of Tyco International Ltd (TYC.N), parent of the ADT Worldwide security service, jumped 4.2 percent in early trading on Monday after a report that France's Schneider Electric (SCHN.PA) is weighing a bid for the industrial conglomerate. Citing people with knowledge of the matter, Bloomberg reported Schneider efforts are at an early stage and no deal is imminent. Neither company commented. Tyco would be the latest in a series of takeovers for Schneider, which has identified security as one of the areas where it was looking to expand. Tyco shares were up $2 to $49.15 in early trading on the New York Stock Exchange, reaching their highest level since July 2007. Schneider shares fell 3 percent in Paris. [ID:nLDE73A193] Tyco's market capitalization is roughly $23 billion including Monday's gains.
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