Schneider Electric's hopes of succeeding with its €7.9bn ($6.7bn) offer for French electrical manufacturer Legrand were revived on Thursday when French securities regulator approved the deal.

The regulator, Conseil des Marchés Financiers, had previously said a lower deal would be permitted, but then a court ruled that the offer was too low. Schneider raised its offer last week. Credit Suisse First Boston and Rothschild are financial advisers to Schneider. BNP Paribas is advising Legrand.