Schneider Electric has increased its bid for rival Legrand by a further 200 million euros in an attempt to appease Legrand's preference shareholders.
Schneider made a 7.9 billion euro offer in January, but a Paris court overruled a decision by the French market regulator to approve the bid following an appeal by Legrand shareholders.

Meanwhile, Schneider has said the group's target of a 14% operating margin this year will be "extremely ambitious and difficult to attain." Chairman Henri Lachmann blamed weak sales growth because of poor US trading conditions.