France’s Schneider Considers Full Buyout of AVEVA
PARIS—French industrial conglomerate Schneider is considering buying out minority shareholders in software company AVEVA, it said on Wednesday, sending the British company’s share price up by more than 32 percent.
Schneider, which already owns nearly 60 percent of AVEVA, said it would decide by 4 p.m. GMT on Sept. 21 whether to go ahead with a bid.
“No proposal has been made to AVEVA yet and there can be no certainty that any offer will be made, nor as to the terms on which any offer will be made (should one be made),” it said in a statement.
The jump in its shares gave the British company a market capitalization of around 8.6 billion pounds ($10.1 billion), while Schneider’s shares rose by 0.6 percent….