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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.78 | 1.89% | 150.06 | 150.04 | 150.06 | 150.06 | 147.76 | 149.08 | 203,444 | 13:06:12 |
Aveva Group's $11.87 Billion Takeover by Schneider Electric Approved by Shareholders
25/11/2022 2:08pm
Dow Jones News
Schneider Electric (EU:SU)
Historical Stock Chart
From Sep 2022 to Mar 2023
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)
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