A PYMNTS Company

UK: Schneider Electric revives £1.3bn merger talks with Aveva

By  |  June 13, 2016

Schneider Electric has resuscitated tie-up talks with software company Aveva, six months after abandoning plans for a £1.3bn merger.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The French energy giant has confirmed it is looking to combine its software business with that of the British company in a deal that would see it take a majority stake in Aveva in return for a cash payment to Aveva shareholders. Aveva, which would issue new shares to Schneider, would still be listed on the London Stock Exchange.

    The boards of the two companies were in “preliminary discussions”, Aveva said, and “there can be no certainty that the discussions… will lead to any agreement”.

    As the mooted deal would constitute a reverse takeover under UK rules, shares in Aveva have been suspended.

    Full Content: Telegraph

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.