Quickie: AVEVA + Schneider closing delayed
AVEVA just announced that it’s waiting on one last regulatory approval, from the US Committee on Foreign Investments (CFIUS), before the close if its merger with Schneider Electric’s software business. According to the press release, “AVEVA and Schneider Electric are not aware of and do not expect any substantive CFIUS concerns” — it’s just taking longer than expected. AVEVA says that CFIUS approval is now expected some time before mid-February 2018, with the closing taking place after the CFIUS approval is announced.
This delay causes a bit of a problem with regulatory filings so AVEVA will publish a supplementary prospectus in January.
Bottom line: slower than expected, nothing is wrong.