2022-11-25 13:39:20

Aveva's shareholders accept Schneider's $12 billion software takeover

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Channel NewsAsia
By Cna

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LONDON :France's Schneider Electric won control of Aveva, one of Britain's biggest tech companies, on Friday after minority shareholders approved an offer valuing the industrial software firm at 9.9 billion pounds ($11.9 billion).

France's Schneider, which already owned nearly 60 per cent of Aveva, upped its offer to 3,225 pence earlier this month after several major investors threatened to reject its previous 3,100 pence offer, which they termed opportunistic.

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