UPDATE 1-Andritz offers $745 mln for engineer peer Schuler


* Offers 20 euros per share, a 26 percent premium * Buys 38.5 percent stake at 20 euros * Schuler shares up 27 percent to 20.0450 euros (Adds detail, background) VIENNA/FRANKFURT, May 29 (Reuters) - Austrian engineer Andritz has offered 20 euros per share for German peer Schuler and said it had bought a 38.5 percent stake at that price, in a deal that would see it expand in emerging markets in Asia and South America. The offer price, a 26 percent premium over Monday's closing price, valued ...

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