Schneider to take control of Aveva
- Author:Ella Cai
- Release on:2017-09-06
Cambridge software company Aveva has finally been snapped up by the French energy company Schneider Electric after two failed takeover attempts.
Talks between the two companies first started in July 2915 at a valuation of £1.3 billion.
Aveva later said that the risks for shareholders were too high.
Talks re-started in July 2016 but collapsed in a few days
Now a major shareholder is said to have come out in support of a deal which gives Schneider a majority stake in Aveva .
Schneider will make a cash payment reported to be worth £8 a share to Aveva shareholders. Today’s share price is just under £3.
Aveva’s market cap today is $1.26 billion.
Talks between the two companies first started in July 2915 at a valuation of £1.3 billion.
Aveva later said that the risks for shareholders were too high.
Talks re-started in July 2016 but collapsed in a few days
Now a major shareholder is said to have come out in support of a deal which gives Schneider a majority stake in Aveva .
Schneider will make a cash payment reported to be worth £8 a share to Aveva shareholders. Today’s share price is just under £3.
Aveva’s market cap today is $1.26 billion.
