16th Jan 2023 18:17
Aveva Group PLC - Cambridge, England-based industrial software firm - Says final day of dealings of shares to be on Tuesday as takeover by Schneider Electric SE sanctioned by court. Takeover will come to effect once court order is delivered to Registrar of Companies for England & Wales. This is expected to occur on Wednesday. Shares will be suspended on Wednesday before subsequent cancellation.
In November, French energy management company Schneider Electric made a cash offer for the 41% of Aveva shares it didn't already own. Schneider Electric offered 3,225 pence in cash for each Aveva share, valuing the industrial software firm's equity at GBP9.86 billion.
Current stock price: 3,221.00 pence
12-month change: up 9.2%
By Eric Cunha, Alliance News news editor
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