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Aveva: Schneider Electric offer approved

( - Schneider Electric has announced that AVEVA's shareholders have approved Schneider Electric's binding offer for all of the issued, and to be issuedn share capital of AVEVA that is not owned by Schneider Electric.

AVEVA's minority shareholders have voted by the requisite majority in favour of the previously announced improved and final cash offer at a price of 3,225 pence per share, Schneider said.

Subject to approval by the relevant legal authorities, and satisfaction of conditions, the transaction is now scheduled for completion in the first quarter of 2023.

The deal doesn't seem to be moving mountains though - Aveva shares are up about 0.2% in late trading today, while Schneider Electric shares are down by about this.

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