(AOF) – According to information from the Financial Times, the Canadian fund manager Mawer Investment Management, which is one of the main shareholders of the British software publisher, intends to reject the takeover offer from Schneider Electric , worth 9.5 billion pounds (10.86 billion euros).
Peter Lampert, a portfolio manager at Canadian firm Mawer Investment Management, which has C$77 billion in assets under management, said the offering price did not reflect the company’s long-term potential, reports financial daily.
This opinion is in line with that issued by the broker Berenberg, which downgraded Aveva from Buy to Hold, while raising its target price from 2,800 to 3,113 pence. For the broker, Schneider’s offer at 3,100 pence per share for Aveva’s minority shareholders is below its expectations and does not fully reflect Aveva’s true potential.