(Alliance News) - Aveva Group PLC on Monday said that the takeover offer from Schneider Electric SE has so far received the support of 4.1% of Aveva shareholders.
This equates to 10% of its non-Schneider shares, as Paris-based Schneider already owns a 59% stake in industrial software firm Aveva.
On Friday, the firms announced they had agreed an increase and final cash offer for Schneider's takeover of Aveva. Schneider offered 3,225 pence in cash for each Aveva share, which valued Aviva equity at GBP9.86 billion, and implied an enterprise value of GBP10.57 billion. The offer was around 4% higher than that agreed a couple of months ago.
Aveva shares were 0.2% higher at 3,174.00 pence each in London on Monday morning, while Schneider Electric shares fell 0.8% to EUR140.86 each in Paris.
By Tom Budszus; tombudszus@alliancenews.com
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