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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
  3.00 2.01% 152.40 150.00 152.70 152.68 149.18 150.10 995,993 16:40:00

Trending: Schneider Electric's $10.8 Billion Acquisition of Aveva

21/09/2022 2:24pm

Dow Jones News


Schneider Electric (EU:SU)
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1253 GMT - Schneider Electric is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the French energy management and automation company confirmed its intention to purchase the rest of Aveva's shares that it doesn't already own. Schneider agreed to pay 9.48 billion pounds ($10.8 billion). Schneider says that together they will enable the faster execution of its software growth strategy and combine energy and processes. As part of the deal Aveva will retain its business autonomy, Schneider said. Berenberg analysts in a research note say that the deal has questionable merits. If Aveva is to remain truly independent, the analysts say they struggle to see how the deal contributes more than 2% to 3% to Schneider's earnings per share. But Bryan Garnier analysts Gregory Ramirez and Paul Charpentier say in a note that the rationale for the deal is also to accelerate Aveva's transition into a hybrid cloud-based subscription model. The acquisition is expected to close in the first quarter of 2023. Dow Jones & Co. owns Factiva.(pierre.bertrand@wsj.com)

 

(END) Dow Jones Newswires

September 21, 2022 09:09 ET (13:09 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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