Aveva's shareholders accept Schneider's $12 billion software takeover

FILE PHOTO: The logo of Schneider Electric is seen outside a company building in Nantes, France, September 20, 2022. REUTERS/Stephane Mahe

LONDON (Reuters) - France's Schneider Electric won control of Aveva, one of Britain's biggest tech companies, on Friday after minority shareholders approved an offer valuing the industrial software firm at 9.9 billion pounds ($11.9 billion).

France's Schneider, which already owned nearly 60% of Aveva, upped its offer to 3,225 pence earlier this month after several major investors threatened to reject its previous 3,100 pence offer, which they termed "opportunistic".