Renishaw Said to Face Uphill Battle to Sell Over Steep Price

British engineering firm Renishaw Plc is struggling to attract takeover interest because of a hefty price tag and list of ownership demands, people familiar with the matter said.

Rival engineering companies Hexagon AB, Schneider Electric SE and Siemens AG all decided against pursuing Renishaw, the people said, asking not to be identified discussing confidential information. While several competitors viewed Renishaw and its technology as attractive, they were turned away by a high valuation that makes a deal prohibitively dilutive to earnings, the people said.