- Published: 20 February 2007 20 February 2007
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.