By Olivia Bugault

Schneider Electric SE said Tuesday that its voluntary public takeover offer for RIB Software SE has exceeded the minimum acceptance threshold of 50%.

The French company said 66.64% of RIB's total share capital and voting rights have been tendered into the offer, while Schneider had also acquired a 9.99% stake in RIB outside the offer on March 25.

"Schneider Electric has thereby concluded the initial offer period with a stake of approximately 76.63% of the total share capital and voting rights of RIB," it said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

April 28, 2020 03:01 ET (07:01 GMT)

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