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Davidson Kempner Seeks Higher Price on £9.5 Billion Aveva Deal

  • Davidson Kempner holds 3.5% of UK industrial software company
  • Investors may seek improved Schneider offer of £35 a share
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Davidson Kempner Capital Management is building its stake in Aveva Group Plc and will join other investors in pushing Schneider Electric SE to up a £31 ($34.7) per share bid for the UK industrial software company, people familiar with the matter said.

The hedge fund, which now has a holding of 3.5% in Aveva, and others may seek an improved offer of up to £35 a share, the people said, asking not to be identified discussing confidential information. Davidson Kempner is continuing to add to its position, the people said.