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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.

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

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