Talks between the two companies first started in July 2915 at a valuation of £1.3 billion.
Aveva later said that the risks for shareholders were too high.
Talks re-started in July 2016 but collapsed in a few days
Now a major shareholder is said to have come out in support of a deal which gives Schneider a majority stake in Aveva .
Schneider will make a cash payment reported to be worth £8 a share to Aveva shareholders. Today’s share price is just under £3.
Aveva’s market cap today is $1.26 billion.