Deals
Aveva CEO’s Deja-Vu Spurred Second Rejection of Schneider
- CEO Longdon speaks in interview after discussions terminated
- Aveva shares tumble after trading resumes; Schneider rises
We Made Very Attractive Proposal to Aveva: Schneider CEO
This article is for subscribers only.
For Aveva Group Plc Chief Executive Officer Richard Longdon, it was a case of deja-vu when Schneider Electric SA unsuccessfully sought to revive takeover talks, six months after the two companies abandoned the project.
The industrial logic to the deal remains, yet so do Aveva’s original concerns about combining the businesses, Longdon said in a telephone interview Wednesday, shortly after the Cambridge, U.K.-based software maker confirmed discussions had been terminated, sending its shares tumbling. A representative for Schneider Electric declined to comment.