And there are growing signs that opposition to the proposals could scupper Schneider’s swoop on one of Britain’s oldest technology companies. Another top 20 investor, which did not want to be named, said: ‘We believe that the current bid from Schneider Electric for Aveva materially understates the true long-term value of the business. Schneider first made an offer for the rest of the company in September, tabling 3100p a share for the 41 per cent of Aveva it does not already own. Business Secretary Grant Shapps has come under increasing pressure to intervene in the Aveva deal on national security grounds. Critics say that if Aveva is taken over its proprietary technology is at risk of falling into Chinese hands.

Source: Daily Mail November 23, 2022 05:43 UTC