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AVEVA Group

Equities

AVV

GB00BBG9VN75

Aveva reports 4.1% support so far for Schneider takeover offer

November 14, 2022 at 05:32 am EST

(Alliance News) - Aveva Group PLC on Monday said that the takeover offer from Schneider Electric SE has so far received the support of 4.1% of Aveva shareholders.

This equates to 10% of its non-Schneider shares, as Paris-based Schneider already owns a 59% stake in industrial software firm Aveva.

On Friday, the firms announced they had agreed an increase and final cash offer for Schneider's takeover of Aveva. Schneider offered 3,225 pence in cash for each Aveva share, which valued Aviva equity at GBP9.86 billion, and implied an enterprise value of GBP10.57 billion. The offer was around 4% higher than that agreed a couple of months ago.

Aveva shares were 0.2% higher at 3,174.00 pence each in London on Monday morning, while Schneider Electric shares fell 0.8% to EUR140.86 each in Paris.

By Tom Budszus; tombudszus@alliancenews.com

Latest news about AVEVA Group

McDermott, AVEVA and Aras Sign Lighthouse Agreement to Enhance Digital Efficiency	23-10-30	CI
AVEVA Announces Board Appointments	23-09-20	CI
Aveva Announces CEO Changes	23-03-02	CI
Aveva Delists from London Following Schneider Takeover	23-01-19	MT
Aveva to Delist as Schneider Electric's Court-approved Bid Takes Effect	23-01-18	MT
Schneider Electric completes Aveva takeover	23-01-18	AN
AVEVA Group plc(LSE:AVV) dropped from FTSE techMARK All-Share Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from FTSE 350 Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from FTSE 350 (Ex Investment Companies) Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from FTSE All-Share Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from FTSE 100 Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from FTSE All-World Index	23-01-18	CI
AVEVA Group plc(LSE:AVV) dropped from S&P Global BMI Index	23-01-18	CI
Schneider Electric S.E. (ENXTPA:SU) completed the acquisition of 40.86% stake in AVEVA Group plc from from J. Patrick Kennedy and others.	23-01-17	CI
Aveva shares suspended on Wednesday amid Schneider deal	23-01-16	AN
Upbeat Sentiment, Inflation Hopes Extend French Stocks Rally	23-01-16	MT
Aveva Group Nears London Delisting as Schneider Electric Bid Gets Court Approval	23-01-16	MT
Bernstein Lowers Aveva to Market-perform from Outperform, Hikes PT	23-01-04	MT
Bernstein cuts Aveva to 'market-perform'	23-01-04	AN
Bright start to 2023 for FTSE 100 set to continue	23-01-04	AN
AVEVA Group plc Announces Resignation Ayesha Khanna, an Independent Non-Executive Director, Effective December 31, 2022	22-12-22	CI
LONDON MARKET CLOSE: Stocks down in anticipation of FOMC decision	22-12-14	AN
Stocks Slip in Paris as Rate Jitters Replace Inflation Rally	22-12-14	MT
Schneider Electric's Aveva Group Bid Clears Regulatory Hurdles; Closing Expected in Mid-January 2023	22-12-14	MT
CORRECT: Aveva takeover by Schneider Electric clears conditions	22-12-14	AN

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AVEVA Group plc specializes in the development and publishing of engineering software for use in the oil and gas, chemical and pharmaceutical, shipbuilding, and electricity production industries. Net sales break down by activity as follows: - rental of software and sale of subscriptions (35.8%); - support and maintenance services (29.1%); - sale of licenses (24.7%); - other (10.4%). Net sales are distributed geographically as follows: Europe/Middle East/Africa (38.7%), Americas (39.4%) and Asia/Pacific (21.9%).

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