Aveva Group ( OTCPK:AVEVF ) +32% in London trading on Wednesday after Schneider Electric ( OTCPK:SBGSF ) said it was considering a possible offer to acquire all outstanding shares it did not already own.
The French energy management firm, which already owns 59% of Aveva shares, said there is no certainty any offer will be made or on what terms.
Schneider ( OTCPK:SBGSF ) has until September 21 to either make an offer or walk away under U.K. Takeover Panel rules.
Schneider ( OTCPK:SBGSF ) said it believes a full combination would enable it to execute its growth strategy faster.
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Schneider Electric confirms it is weighing full buyout of Aveva