HALISTER: Aveva CEO Says Nothing New in Latest Schneider M&A Approach

Aveva CEO Says Nothing New in Latest Schneider M&A Approach

(Bloomberg) -- Schneider Electric contacted Aveva with a similar approach to last time, CEO Richard Longdon says in phone interview.
  • Says issues are still the same as in previous talks without being more specific
    • Dec. 12: Aveva ends Schneider talks on complexity, costs
  • Says there is still industrial logic to deal, but can’t say why Schneider revived bid now
  • Says leak of talks didn’t help
RELATED:
  • Earlier: Aveva ends talks with Schneider Electric
    • June 13: Schneider revives takeover talks for software- maker Aveva
    • June 14: AVEVA/SCHNEIDER STREET WRAP: Bolt-on deal; more details awaited
  • Earlier: Schneider Electric spokesman declines to comment on Aveva
DATA:
  • Aveva shares fall as much as 20% in London trading, most since Dec. 15
    • NOTE: Stock didn’t trade yday, was suspended Monday afternoon
  • Stock has risen 15% MTD before today’s open vs SX8P down 6.7%
  • Stock up 15% YTD vs SX8P down 13%
  • 12 ratings, 5 buy, 6 hold, 1 sell; avg PT 1714.5p imlies ~-8% downside
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AVV LN (AVEVA Group PLC)
SU FP (Schneider Electric SE)

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