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.
Aveva Group
3,219.00p
07:30 18/01/23
0.00%
0.00p
FTSE 100
8,136.99
12:59 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
Software & Computer Services
2,642.54
12:54 24/12/24
0.66%
17.29
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.