Top investor may go against £9.5bn Schneider takeover bid for AVEVA
A top AVEVA investor is reportedly planning to go against a £9.5bn takeover offer by Schneider Electric because it represents an “opportunistic bid”.
Peter Lampert said the bid, at £31-a-share would undervalue the UK technology group, the Financial Times reported.
This comes after numerous major UK firms have been approached by foreign investors, including Ted Baker. tech darling Darktrace and Newcastle-based Go Ahead.
A leading Canada-based investor in Aveva, Peter Lampert said the offer was “an opportunistic bid taking advantage of share price weakness in recent months.”
Lampert, an investor at Mawer which has £50bn in assets and is a major shareholder in Aveva said it was the latest example of a leading UK company being snapped up by a foreign buyer.
Schneider hit back saying it believed the offer was fair, while AVEVA has recommended it after advice from Lazard, JPMorgan Cazenove and Numis.
*Headline changed to reflect the investor may reject the bid, not AVEVA.