Schneider Electric Takeover Offer For RIB Exceeds Minimum Acceptance Threshold
April 28 2020 - 2:16AM
Dow Jones News
By Olivia Bugault
Schneider Electric SE said Tuesday that its voluntary public
takeover offer for RIB Software SE has exceeded the minimum
acceptance threshold of 50%.
The French company said 66.64% of RIB's total share capital and
voting rights have been tendered into the offer, while Schneider
had also acquired a 9.99% stake in RIB outside the offer on March
25.
"Schneider Electric has thereby concluded the initial offer
period with a stake of approximately 76.63% of the total share
capital and voting rights of RIB," it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
April 28, 2020 03:01 ET (07:01 GMT)
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