North American Windpower: AREVA Group Counteroffers Suzlon's Bid

AREVA Group Counteroffers Suzlon's Bid

by NAW Staff on Friday 16 March 2007

AREVA Group SA has issued a counteroffer for the acquisition of REpower Systems AG, a Germany-based wind turbine manufacturer.

In January, AREVA offered REpower 105 euros per share (for the shares AREVA does not already own) for the acquisition of the company. In February, Suzlon submitted an offer of 126 euros per share. AREVA is now raising its bid to 140 euros per share, the company says. The offer will run until April 20, unless it is extended.

According to AREVA, the increased offer reflects the company's strong commitment to REpower and its management, and is in line with the group's strategy of strengthening its presence in the renewable energy sector.

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