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.
Shares in Aveva rose 2.2 percent in early deals in London, while Schneider Electric was down 1 percent.
Schneider already owns nearly 60 percent of Aveva. It took majority control in 2017 in a reverse takeover that enabled the British company to retain its London listing. The French group paid 3 billion pounds at that time….