Aveva Group (OTCPK:AVEVF) +32% in London trading on Wednesday after Schneider Electric (OTCPK:SBGSF) said it was considering a possible offer to acquire all outstanding shares it did not already own.
The French energy management firm, which already owns 59% of Aveva shares, said there is no certainty any offer will be made or on what terms.
Schneider (OTCPK:SBGSF) has until September 21 to either make an offer or walk away under U.K. Takeover Panel rules.
Schneider (OTCPK:SBGSF) said it believes a full combination would enable it to execute its growth strategy faster.
Schneider Electric (OTCPK:SBGSF) recently reported H1 adjusted earnings of €3.24/share on revenues of $16B.