Aveva
Value put on the company £1.3bn
There are two ways of looking at Aveva’s deal with Schneider Electric. You can see it as another high-tech British company being sold overseas; or you can see it as a chunk of British assets coming home and creating a genuine world-beater.
I incline towards the second view. Aveva will continue to be quoted, unless its independent directors choose the alternative, possibly a straight take-out at a figure some way in excess of the share price at the time.
The software assets bought by Schneider with Invensys in early 2014 will be merged with Aveva’s existing operations. This will mean less reliance on oil and gas, which has undermined the price in recent months.
Instead, the merged business