E.ON: launches takeover bid for innogy
(CercleFinance.com) - German energy group E.
ON today launched its takeover offer on smaller rival innogy after the bid's approval from German financial watchdog BaFin.
The move follows the deal signed last month between E.ON and RWE, under which E.ON will acquire RWE's 76.8% stake in innogy via an exchange of assets and businesses.
The offer price of 40 euros per share represents a premium of 28% on innogy's share price at the end of February.
The offer will expire on 6 July 2018, but the takeover is not expected to be closed before mid-2019, E.ON said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
ON today launched its takeover offer on smaller rival innogy after the bid's approval from German financial watchdog BaFin.
The move follows the deal signed last month between E.ON and RWE, under which E.ON will acquire RWE's 76.8% stake in innogy via an exchange of assets and businesses.
The offer price of 40 euros per share represents a premium of 28% on innogy's share price at the end of February.
The offer will expire on 6 July 2018, but the takeover is not expected to be closed before mid-2019, E.ON said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.