French electrical engineering and power management company Schneider Electric SA (SU.FR) Wednesday said it has extended its tender offer to buy all outstanding shares of U.S.-based software company Telvent GIT SA (TLVT) until Aug. 22.

Schneider Electric offered $40 for each share of Telvent and the operation values Telvent at about EUR1.4 billion.

Spanish engineering and renewable energy company Abengoa SA (ABG.MC) agreed to sell its 40% stake in Telvent to Schneider Electric and some Abengoa managers also agreed to sell a 1.5% stake they hold in Telvent.

Schneider had already extended the tender offer in late July and may extend it further, the company said in a statement.

The acquisition still needs the approval of European Union regulators and other authorities.

-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com

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