Aveva major shareholder favours takeover as Schneider plans new bid - report
09 JUL 2017
A major shareholder in Aveva [LON:AVV] has said they would back a takeover of the UK-based software company by Schneider Electric [EPA:SU] of France, The Sunday Times reported. The unidentified investor would prefer a full takeover to a merger and said such a deal would have obvious industrial logic. Schneider remains keen to acquire Aveva, the source said, and the report added that Schneider is making plans to launch a new approach.
Sources said Schneider has been pressed on the matter by its shareholders in meetings recently and signalled that it is interested in making another bid for Aveva, the item reported.
The two groups held unsuccessful merger negotiations last year and in 2015 considered a complicated reverse takeover deal, the report noted.
The original article appeared in The Sunday TImes, Business & Money section, page 1