Indian turbine manufacturer Suzlon Wind Energy (SUZLON.NS), has increased the price of its acquisition offer for German wind turbine manufacturer, REpower Systemse to 150 euros per share. The price exceeds AREVA Group’s offer by 10 euros per share.
AREVA, which owns almost 30% of REpower’s shares, offered 105 euros per share for the outstanding shares in January. Suzlon upped AREVA’s bid to 126 euros per share with the support of Portugal-based power supplier Martifer, which owns 25% of REpower’s shares. REpower’s board approved Suzlon’s offer in early March, but then AREVA increased its bid to 140 euros per share. REpower’s board approved that offer too.
Now Suzlon has returned with an even higher offer which it says will expire on April 20.
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