(AOF) – Schneider Electric confirms that it has reached agreement on the terms of an improved and final offer, in cash, at a price of 3,225 pence per Aveva share and recommended by the Committee of Independent Directors of Aveba. The specialist in digital transformation, energy management and industrial automation previously offered 3,100 pence per title of the British software publisher.
Several major shareholders of the target threatened not to tender their securities, including the Canadian fund manager, Mawer Investment Management. They felt that the offer price did not reflect the company’s long-term potential.