Siemens Gamesa: in demand after announcing takeover bid
(CercleFinance.com) - Siemens Gamesa Renewable Energy (SGRE) shares are up 6% in Madrid today after Siemens Energy announced on Saturday that it would make a voluntary cash tender offer for all the SGRE shares that it does not already own, i.
e. about 32.9% of the capital, at a unit price of 18.05 euros.
The deal will support management's efforts to resolve SGRE's current difficulties and will generate value for the companies' shareholders, Siemens Energy said, which expects both cost and revenue synergies.
If the transaction is successful, the German energy group intends to apply for a delisting of SGRE shares from the Madrid Stock Exchange, noting that the stock is currently included in its flagship Ibex 35 index.
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e. about 32.9% of the capital, at a unit price of 18.05 euros.
The deal will support management's efforts to resolve SGRE's current difficulties and will generate value for the companies' shareholders, Siemens Energy said, which expects both cost and revenue synergies.
If the transaction is successful, the German energy group intends to apply for a delisting of SGRE shares from the Madrid Stock Exchange, noting that the stock is currently included in its flagship Ibex 35 index.
Copyright (c) 2022 CercleFinance.com. All rights reserved.