France’s Schneider to Buy Rest of Aveva in $11 Billion Deal

The logo of Schneider Electric outside a company building in Nantes, France, on Sept. 20, 2022. Stephane Mahe/Reuters

PARIS/LONDON—French industrial group Schneider Electric said it would proceed with a full takeover of British software company Aveva Plc, offering 31 pounds per share in a deal valuing the whole of Aveva at around 9.48 billion pounds ($10.8 billion).

Schneider said its offer represented a premium of around 41 percent to Aveva’s closing share price of 21.92 pounds on Aug. 23, before Schneider first stated its intentions to consider a full buyout.