PLUS1
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Schneider Electric SE | EU:SU | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.28 | 0.86% | 150.68 | 150.66 | 150.70 | 151.90 | 149.18 | 150.10 | 400,919 | 14:59:53 |
Aveva Agrees to GBP9.48 Billion Takeover By Schneider
21/09/2022 7:47am
Dow Jones News
Schneider Electric (EU:SU)
Historical Stock Chart
From Aug 2022 to Feb 2023
By Ian Walker
Aveva Group PLC said Wednesday that it has agreed to a 9.48 billion pound ($10.79 billion) takeover by its major shareholder French energy management and automation group Schneider Electric SE.
Under the deal, accepting shareholders of the U.K. engineering and industrial-software will get 3,100 pence in cash for each share held. The offer price is a 41% premium to Aveva's closing price of 2,192 pence a share on Aug. 23, the day before Schneider disclosed that it was considering a possible offer for the rest of Aveva that it didn't already own.
The offer prices puts an enterprise value on Aveva of GBP10.15 billion.
Schneider currently owns 178.6 million shares in Aveva, or 59.14% of its issued share capital via its subsidiary Samos Acquisition Company Ltd.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 21, 2022 02:32 ET (06:32 GMT)
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