The two companies are in discussions for Schneider to acquire the roughly 40 per cent stake in Aveva that it does not already own, at a price of £30 a share,
The 40 per cent stake in the
The firms are seeking to close the deal ahead of a 21st September deadline imposed by the
Schneider previously acquired a controlling 60 per cent stake in Aveva in 2017 in a deal worth £3bn, in its third bid to take over the firm since 2015.
Shares in Aveva have doubled in price since then meaning Schneider will be forced to pay substantially more for the remaining stake in the
Bankers at Citi are advising Schneider.
(c) 2022 City A.M., source