The board of REpower Systems AG, Germany-based wind turbine manufacturer, has accepted AREVA’s second offer, submitted March 15, which provides a takeover price of 140 euros per share – equaling a total value of about 1.14 billion euros.
The boards noted the 14-euro-per-share increase of AREVA’s offer over a second takeover offer from Suzlon Wind Energy and AREVA’s ability to provide a strategic partnership for “accelerated growth in the international wind industry” as reasons for the recommendation.
In January, AREVA offered REpower 105 euros per share – for the shares AREVA does not already own – for the acquisition of the company. Suzlon submitted a second offer of 126 euros per share, which REpower’s boards recommended accepting on March 6.
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