North American Windpower: REpower Boards Accept AREVA Takeover Offer

REpower Boards Accept AREVA Takeover Offer

by NAW Staff on Tuesday 20 March 2007

The supervisory board and management board of REpower Systems AG, a Germany-based wind turbine manufacturer, have published their joint reasoned opinion concerning AREVA Group SA's increased takeover offer, which was submitted to REpower on March 15.

In their reasoned opinion, the boards accepted AREVA's second offer, which provides a takeover price of 140 euros per share - equaling a total value of about 1.14 billion euros - and recommended REpower accept the offer. The boards noted the 14-euro-per-share increase of AREVA's offer over a second takeover offer from Suzlon Wind Energy and AREVA's ability to provide a strategic partnership for "accelerated growth in the international wind industry" as reasons for the recommendation.

In January, AREVA offered REpower 105 euros per share - for the shares AREVA does not already own - for the acquisition of the company. Suzlon submitted a second offer of 126 euros per share, which REpower's boards recommended accepting on March 6.

Latest Top Stories

Wind Consortium Deploys Nacelle Mounted LIDAR At Offshore Site In Irish Sea

In an important development for performance verification for offshore wind sites, a group of companies have deployed a nacelle-mounted LIDAR at DONG Energy's 367 MW Walney Wind Farm.

As U.S. DOJ Investigates, Duke Works Adaptive Management Plan

With previous golden eagle fatalities reported at two company-owned wind farms in Wyoming, Duke Energy Renewables is going to great lengths to protect raptors.

DOE To Recast Landmark 20% Wind Energy Report; Study Looks Back, Ahead

The U.S. Department of Energy will update its 20% Wind Energy By 2030 report, which indicated increased levels of wind penetration for the U.S. is not only possible but feasible.

Wind Energy Procurement Top Of Mind For Big-Name Companies

With greater frequency, top-tier companies are discovering the economic and environmental power of wind energy and upping their investments in the resource.

WINDPOWER Panelists Issue A Call To Arms: Protect RPS Mandates

Votes on several legislative bills concerning state renewable portfolio standards (RPS) are nearing. How can you help protect and maintain these development drivers?