Schneider said its financial adviser, Citigroup Global Markets Ltd, confirmed that the Paris-based company has "sufficient resources" to complete the takeover. Aveva shares were up 0.2% at 3,180.00 pence in London on Wednesday afternoon. Last week, Aveva said Schneider's offer had received the support of 4.1% of Aveva shareholders. In a report late Tuesday, the Daily Mail claimed that Schneider's offer is "on a knife edge" due to mounting opposition from minority shareholders. The newspaper noted that approval of the takeover requires 75% support from minority shareholders at a general meeting set for Friday.

Source: Daily Mail November 23, 2022 22:05 UTC