Schneider Electric considering bid for Aveva, shares surge

Aveva surged on Wednesday after France’s Schneider Electric said it was considering making a bid for the London-listed software company.

Schneider said it was exploring the possibility of buying the remaining 40% of Aveva shares it does not already own.

The company said it has not yet made a proposal to Aveva shareholders and that there is no certainty any offer will be made, nor as to any potential terms.

At 1310 BST, Aveva shares were up 32% at 2,893.75p.

Schneider has until 21 September to either make a firm intention to make an offer or walk away.