Aveva Group's $11.87 Billion Takeover by Schneider Electric Approved by Shareholders
25 Novembre 2022 - 3:08PM
Dow Jones News
By Ian Walker and Kyle Morris
Aveva Group PLC said Friday that shareholders have approved its
around 9.8 billion pound ($11.87 billion) takeover by majority
shareholder French energy management and automation group Schneider
Electric SE.
Aveva said that 86.48% of votes were cast in favor of the
takeover and that the scheme remains subject to sanction by court
at a hearing due in the first quarter of 2023.
Under the offer, which was raised earlier this month,
shareholders of the U.K. engineering and industrial-software will
get 3,225 pence in cash for each share held, up from the previous
offer of 3,100 pence-a-share agreed in September.
In addition to the offer price, accepting shareholders will get
to keep the 13 pence-a-share dividend declared on Nov. 8 that is
payable on Dec. 9.
Schneider Electric owns around 59% of Aveva's issued share
capital.
Write to Ian Walker at ian.walker@wsj.com and Kyle Morris at
kyle.morris@dowjones.com
(END) Dow Jones Newswires
November 25, 2022 08:53 ET (13:53 GMT)
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