UPDATE 3-Aveva says tie-up talks with Schneider Electric end

mercredi 15 juin 2016 20h44
 

* Aveva does not give reasons for end of talks

* Schneider Electric declined to comment

* Aveva shares slump as much as 20.1 pct (Adds source on reason talks ended, more analyst reaction)

By Noor Zainab Hussain

June 15 (Reuters) - Aveva Group Plc said on Wednesday talks over a possible tie up with France's Schneider Electric SE had ended, sending the British software maker's shares down as much as 20 percent.

Aveva said on Monday it had received a revised, conditional proposal from Schneider Electric, six months after the French company pulled out of a deal to buy a majority of the company.

The companies have since been in talks over the merits of the proposed deal, that would have be a reverse takeover under UK listing rules.

Schneider Electric declined to comment on the end of the talks on Wednesday. Aveva declined to give a reason for the breakdown in discussions.

A source close to the talks said the hurdles that derailed the deal in December, such as the complexity of integrating the two operations, still loomed large in the new proposal.   Suite...