Follow us at  twitter

REpower, currently the target of a takeover struggle between India and France praised French nuclear power company Areva for its low bid.

But, in a carefully-worded statement, the supervisory board of REpower, did not reject a bid by Suzlon Wind Energy of India. The 11-page statement contained no recommendation to shareholders about which bid to accept for their stock, but described the € 105 per-share bid by Areva as fair. It also said a takeover by the French company would ensure continuity and reliability and would not disadvantage the workforce. Suzlon this month beat € 126 per share, valuing REpower at about € 1 billion. REpower's board said that although Suzlon's bid was financially more attractive to shareholders, it would not comment on the bid until it had seen the details of the Suzlon offer.
Joomla SEF URLs by Artio