By Ian Walker

Shares of Aveva Group PLC rose 35% on Wednesday after Schneider Electric SE said it was considering a possible offer for the U.K. engineering and industrial-software, but hasn't made any approach as yet.

The French energy management and automation group said that there is no certainty any offer will be made or on what terms. It has until Sept. 21 to either make an offer or walk away under U.K. Takeover Panel rules.

Aveva shares at 1135 GMT were up 767 pence at 2,959.0 pence, implying a market capitalization of 8.93 billion pounds ($10.57 billion).

Schneider shares were up 0.6% at EUR128.86.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

August 24, 2022 07:58 ET (11:58 GMT)

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