Complex sentence: Empress Maria Theresa, who co-ruled with Joseph, considered any conflict over the Bavarian electorate not worth bloodshed, and neither Maria Theresa nor Frederick saw any point in pursuing hostilities.
Split into simpler sentences: Empress Maria Theresa, who co-ruled with Joseph, considered any conflict over the Bavarian electorate not worth the cost. Neither Maria Theresa nor Frederick saw any point in pursuing hostilities.