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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.50 | 1.62% | 219.55 | 219.00 | 219.90 | 219.70 | 214.50 | 214.50 | 686,816 | 16:40:00 |
From Jul 2022 to Jul 2024
By Ian Walker and Kyle Morris
Aveva Group PLC said Friday that shareholders have approved its around 9.8 billion pound ($11.87 billion) takeover by majority shareholder French energy management and automation group Schneider Electric SE.
Aveva said that 86.48% of votes were cast in favor of the takeover and that the scheme remains subject to sanction by court at a hearing due in the first quarter of 2023.
Under the offer, which was raised earlier this month, shareholders of the U.K. engineering and industrial-software will get 3,225 pence in cash for each share held, up from the previous offer of 3,100 pence-a-share agreed in September.
In addition to the offer price, accepting shareholders will get to keep the 13 pence-a-share dividend declared on Nov. 8 that is payable on Dec. 9.
Schneider Electric owns around 59% of Aveva's issued share capital.
Write to Ian Walker at ian.walker@wsj.com and Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
November 25, 2022 08:53 ET (13:53 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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