PARIS (Reuters) – The French industrial group Schneider Electric announced on Friday an increase in its offer to buy the shares of the British Aveva which it does not yet own, valuing the latter at around 9.86 billion pounds sterling (11 .27 billion euros).
Schneider, which already owns 59% of the capital of Aveva, now offers 32.25 pounds per share while the initial offer launched in September was 31.0 pounds.
Several shareholders of the British group had threatened not to tender their shares to the offer, including Davidson Kempner, one of the first five.
The investment fund said Thursday that Schneider’s offer was “very opportunistic” and did not take into account Aveva’s long-term development potential.
On the London Stock Exchange, Aveva shares gained 0.67% to 31.65 pounds after the announcement of the new offer, presented as “final” by Schneider. In Paris at the same time, the title Schneider was up 0.36% to 141.10 euros.
(Written by Marc Angrand)
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