- Aveva says (OTCPK:AVEVF) says it has received a new proposal from Schneider Electric (OTCPK:SBGSF) for the company to combine with Schneider's software business and take a stake in Aveva in exchange for a cash payment to Aveva.
- The proposed deal is similar to one that emerged from talks last year which envisaged Schneider taking a 53.5% stake in Aveva and paying £550M ($793.7M) into the company; the talks were abandoned after the companies failed to agree on terms.