Suzlon Energy has upped the ante in the battle for REpower by increasing its offer to e150, or 7.14% higher than French giant Areva’s e140-per-share offer. The Tulsi Tanti company announced on Tuesday that its foreign joint venture with Martifer—Suzlon Wind Energie—raised the takeover offer for REpower Systems after its subsidiary purchased 7.7% in the German firm for that price.
“The decision to increase the offer was taken after careful analysis and review of potential synergies that Suzlon can contribute to REpower, given our fully integrated business and control over component level technology and its integration with turbine technology,” Suzlon CMD Tulsi Tanti said.
A communiqué from Suzlon said SE Drive Technik, a company acting in concert with the bidding company, purchased REpower shares for up to e150 per share over the Easter weekend.
Read more in The Economic Times article.
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