Aveva Group Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Aveva Group Plc LSE:AVV London Ordinary Share GB00BBG9VN75 ORD 3 5/9P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 3,219.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
3,219.00 3,220.00
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 3,219.00 GBX

Aveva (AVV) Latest News

Aveva (AVV) Discussions and Chat

Aveva (AVV) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type

Aveva (AVV) Top Chat Posts

Top Posts
Posted at 22/11/2022 22:35 by waldron
French swoop on Aveva hanging in the balance: Schneider Electric deal would be hammer blow for UK, says top investor

By Mark Shapland For The Daily Mail

Published: 22:00 GMT, 22 November 2022 | Updated: 22:00 GMT, 22 November 2022

The French takeover of one of Britain’s biggest technology firms is on a knife edge as opposition from shareholders mounts.

Paris-based Schneider Electric – which already owns 59 per cent of FTSE 100 listed Aveva – plans to buy the remaining 41 per cent for 3225p per share in a deal that values the Cambridge-based software firm at £10billion.

But the takeover hangs in the balance as it requires the approval of at least 75 per cent of minority shareholders at a key vote on Friday.

Target: Schneider Electric – which already owns 59% of Aveva – plans to buy the remaining 41% for 3225p per share in a deal that values the Cambridge-based software firm at £10bn

Target: Schneider Electric – which already owns 59% of Aveva – plans to buy the remaining 41% for 3225p per share in a deal that values the Cambridge-based software firm at £10bn

Given the French group cannot vote, it would only take 10 per cent of the overall shareholder base to reject it for the deal to be blocked.

And there are growing signs that opposition to the proposals could scupper Schneider’s swoop on one of Britain’s oldest technology companies.

City heavyweight Jupiter – a top 40 shareholder in Aveva – became the latest to speak out, warning the deal would be a hammer blow for London as the UK looks to turn itself into the Silicon Valley of Europe.

Another top 20 investor, which did not want to be named, said: ‘We believe that the current bid from Schneider Electric for Aveva materially understates the true long-term value of the business.

‘We are concerned that the approach appears highly opportunistic at a time of business model evolution and follows a difficult period of share price performance.

‘Aveva is a leading UK software company, which in our view, will play a significant role in accelerating climate transition, as a green solutions enabler for its customers across multiple end-market industries.

On this basis, we do not believe the bid fairly reflects the future value creation potential of the business.’

They joined other leading money managers including M&G Investments, Davidson Kempner and Canadian firm Mawer, who all have previously said they will vote against the deal.

Schneider first made an offer for the rest of the company in September, tabling 3100p a share for the 41 per cent of Aveva it does not already own. 

But after New York-based Davidson Kempner accused the French firm of ‘opportunism’ and ‘poor communication’, the offer was raised to 3225p a share on November 11.

Schneider, however, said the offer was final.

Speaking to the Mail last night, Jupiter investment manager Richard Buxton said: ‘It would be good for London and long-termism if voters said no.

‘The increase on November 11 from Schneider wasn’t much. ‘But the question is will holders want to turn them down and stick it out as a minority.’ 

Buxton is one of the most recognised fund managers in the City and has previously called for software business Arm to come home and be listed in London.

Aveva is one of the London Stock Exchange’s few remaining technology firms. Spun out of Cambridge University in the 1960s, it provides software to help engineers design major industrial projects as well as products that help run factories.

Business Secretary Grant Shapps has come under increasing pressure to intervene in the Aveva deal on national security grounds. 

Fears in particular have been raised about Schneider’s joint venture with Chinese conglomerate Delixi Electric. Critics say that if Aveva is taken over its proprietary technology is at risk of falling into Chinese hands.

Posted at 23/9/2022 20:11 by misca2
Aveva investors plan to reject £9.5bn Schneider takeover

Sep 23, 2022 | News, UKPEC

Mawer and M&G say £9.5bn bid from French group undervalues UK software developer

A top-10 investor in Aveva plans to reject Schneider Electric’s £9.5bn takeover of the software developer on the grounds that it represents an “opportunistic bid” that undervalues the UK group.

Schneider said on Wednesday that it would pay £31 a share for the 40% of Aveva it did not already own – a 41% premium over the company’s closing share price in August, before the potential offer emerged.

Peter Lampert, a portfolio manager at Canada-based Mawer Investment management, which has C$77bn in assets under management and is one of the top five external shareholders in Aveva, said the offer price did not reflect the long-term potential of the company.

“Aveva is a great business with a very promising long-term outlook,” he said. “It’s an opportunistic bid taking advantage of share price weakness in recent months.”

Schneider’s takeover attempt is the latest example of an undervalued UK company being snapped up by a foreign buyer or removed from the stock market by private equity.

Schneider aims to close the deal in the first quarter of 2023, but will need to secure support from at least 75% of minority shareholders in a vote set for mid-November.

Given the French group cannot vote, it would only take about 10% of the overall shareholder base to reject it for the deal to be blocked.

Source: Financial Times

Posted at 21/9/2022 08:28 by la forge
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.

Accepting shareholders will also be able to keep any interim dividend of up to 13 pence a share declared by Aveva for the half year ended Sept. 30 without any reduction in the share consideration, Schneider said.

The offer prices puts an enterprise value on Aveva of GBP10.15 billion.

"By taking 100% ownership of Aveva, we will be able to grow the business faster by simplifying decision-making, enabling seamless interactions between teams, accelerating our investments in R&D and enabling a more coordinated sales strategy, while respecting the companies' particular strengths, and accelerating the transition to a subscription business model under private ownership," Schneider Chief Executive Jean-Pascal Tricoire said.

Schneider currently owns 178.6 million shares in Aveva, or 59.14% of its issued share capital via its subsidiary Samos Acquisition Company Ltd.

The acquisition is expected to complete in the first quarter of 2023.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

September 21, 2022 02:53 ET (06:53 GMT)

Posted at 08/9/2022 09:56 by halfpenny
AVV may go the way DARKTRACE 30% DOWN TODAY!! Offer rejected. AVV may also have offer rejected so be careful as its still Risky..
Posted at 30/8/2022 21:52 by halfpenny
AVV looking strong and now there will be a Premium 20% on the offer day price for the remaining shares. Now AVV LOOKING BRIGHT.
Posted at 26/8/2022 08:04 by halfpenny
AVV expect a retrace first and then higher values once offer accepted. Still a Risk so be aware as they are still open!! Now higher Risk of retrace as profit takers move in AVV!!
Posted at 25/8/2022 17:01 by halfpenny
Dark/AVV my valuation BUT expect a retrace first and then higher values once offer accepted. Still a Risk so be aware as they are both still open!! Both become higher Risk of retrace as profit takers move in Dark/AVV!!
Posted at 24/8/2022 22:34 by wad collector
I see that Schneider are capitalised at 73M Euros , about 7 times AVV. I cannot find the press release that they gave , only the AVV responses, the earliest of which was at 13.13
I wonder what time they made that announcement , how much the share price crept upwards ahead of it ?

Posted at 24/8/2022 17:51 by sharw
I have it at the back of my mind that the rules say the minimum a bidder can offer is any price paid during the last 12 months. They announced a purchase on 25/2 taking them from 58.6% to 59.01%. share price at close 24/2 2466p, 25/2 2510p. Above that their generosity will be restrained by having already paid out - when the merger between the old Aveva and their software business took place giving them over 50% control shareholders were given compensation of 858p/share recognising that t/o potential had been taken away.
Posted at 01/4/2021 16:52 by sharw
AVV has a large proportion of income in $ but reports in £ so there has been some reaction to the recent strength of stirling - high £ on 8/3 and 24/3 correspond with AVV share price dips.
Aveva share price data is direct from the London Stock Exchange
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com

V: D: 20230601 04:59:33