Invensys, which has a location in Foxborough, could see new ownership if a bid for the company is accepted.
Schneider Electric of France has approached the British company with a takeover bid of over $5 billion according to the Guardian.
The offer comes off of long standing speculation that Invensys would be bought by a foreign company.
Under British stock exchange rules, Schneider has until August 8 to make a firm interest or drop its interest in a takeover.
The Guardian also speculated that Siemens, ABB, Emerson Electric, or General Electric could place counter-bids.
Of the 16,500 workers employed by Invensys, 1,000 of them work in Foxborough.
In the past 12 months, the company was in talks with Emerson to sell it's Foxborough brand but nothing ever came of it.
The Foxboro campus of Invensys, originally called the Foxboro Company, makes control systems for plant operations and measurement and instrument systems. The company was sold to Siebe in 1990. A merger between Siebe and BTR in 1999 created Invensys.
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