Third time lucky: Schneider Electric rekindles merger talks with Aveva... Again.

 
Lucy White
MOROCCO-TECHNOLOGY-SOLAR-NOOR
This will be the third merger attempt in two years (Source: Getty)

French software multinational Schneider Electric is attempting a new merger with the UK's Aveva, its third in two years.

The business revealed it was planning a fresh deal when pressed by investors at recent meetings, according to reports from the Sunday Times.

London-listed Aveva, which provides engineering design and information management services to the plant, power and marine services, looked set to be bought out by Schneider in 2015.

The two companies had crafted a complex £1.3bn reverse takeover deal, which would have seen Schneider become listed without an initial public offering.

But the deal fell through – as did further merger talks last year.

Read more: Aveva's share price plummets 36 per cent as it calls off talks with Schneider Electric

According to the Sunday Times, an agreement reached between Schneider and Aveva would be supported by one of the UK company's largest shareholders.

Massachusetts Financial Services Co. is the largest single shareholder in Aveva, with Vanguard, Aberdeen Asset Managment and BlackRock also in the top ten.

Aveva's share price stood at 2,018 at the close on Friday, up 2.18 per cent from the previous close and giving the company a market cap of £1.29bn.

In its trading update on Friday, it announced a 27 pence per share dividend payable in August.

​Read more: Carlyle and PAI join forces to snap up Schneider sensors unit

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