(Reuters) – French industrial group Schneider Electric has increased its offer for Aveva to 3,225 pence per share, valuing the British software company at about 9.86 billion pounds ($11.62 billion), Aveva said on Friday.
Schneider, which already owns a majority stake in the London-listed firm, in September offered to fully take over Aveva for 3,100 pence per share.
Several Aveva investors had threatened to reject the previous offer, including top-five investor Davidson Kempner.
The hedge fund said on Thursday the Schneider bid was “highly opportunistic” and it did not take into account Aveva’s long-term potential.
($1 = 0.8485 pounds)
(Reporting by Yadarisa Shabong and Sinchita Mitra in Bengaluru; Editing by Devika Syamnath)
