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Let the article read to you: Just under a month ago, the Bloomberg news agency reported that the French electronics group Schneider Electric intends to acquire the industrial software specialist Aveva Group completely. The intention now becomes reality, because today Schneider Electric announces to submit a takeover offer to the remaining Aveva shareholders.

Schneider Electric plans complete takeover of Aveva Group

Schneider Electric SE has already been the majority shareholder in Aveva Group since 2018 and currently holds a stake of around 59 percent. Today, the French group announces via ad hoc news that a binding public offer has been made for all outstanding shares not owned by Schneider Electric, in accordance with Rule 2.7 of the UK Code on Takeovers and Mergers. Schneider Electric is offering shareholders a price of 3,100 pence per Aveva share, a 41 percent premium to the closing price of 2,192 pence on Aug. 23, 2022, the day Schneider Electric first announced it was considering a full Aveva acquisition. In addition, Schneider Electric intends to pay an interim dividend of up to 13 pence per Aveva share as part of the takeover offer for the outstanding shares, without this counting against the takeover price offered. This gives the targeted Aveva acquisition a total (diluted) value of approximately £9.5 billion. Schneider Electric further announced that both companies have already agreed on the terms of the cash offer.

Shares of Scheider Electric and Aveva rise

Shares in Schneider Electric, which are listed in the French select index CAC-40 and the Euro Stoxx 50, among others, are up 0.8 percent to 117.00 euros on the Paris Stock Exchange today. Aveva shares, which are listed in the FTSE-100, are currently up 2.3 percent to 3,118 pence on the London Stock Exchange, slightly above the takeover price offered by Schneider.

RBC leaves Schneider Electric at “Sector Perform

Quite fast were the analysts of the Canadian bank RBC, which let already flow today the desired full takeover of Aveva into their most current study. According to Mark Fielding, at the offered takeover price of 3,100 pence, “Schneider’s net debt could increase to 1.5 times the operating result (EBITDA)”. Based on the new information, he leaves his rating for Schneider Electric at “Sector Perform” and confirms the price target unchanged at 145 euros. At the current he trusts thus the shares of Schneider Electric in the medium term further price increases of up to 25 percent. Company securities account for corporations You would like to open a securities account for your GmbH, AG or UG and invest company assets in securities? Find out now about our securities account for business customers: More about the corporate securities account via LYNX Mkt Cap Vol T-High T-Low Displaying the — chart Show today’s chart Ace Beaute Oceanic Palette.

Anna Hein

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