Sorry about the naff graff missing off the latest rise, Yahoo must update the yearly graphs on an overnight batch schedule.
Can we expect more consolidation as the big traditional energy companies swallow the comparitively tiny wind companies?
Posted on 01/22/2007 11:05:39 AM PST by alnitak
French firm Areva - the largest maker of nuclear reactors - has tabled a $1bn (£506m; 772m euro) bid for leading clean energy firm Repower of Germany.
Areva said it would pay 105 euros a share for the wind turbine firm, a move that would allow it to tap into the growing wind energy sector.
Climate change has fuelled a greater commercial interest in clean energy, as firms try to reduce carbon emissions.
News of the offer pushed Repower shares up by 23.5% to 110.23 euros.
The 105 euros a share offer represents a 17% premium on the firm's closing price on Friday on the Frankfurt Stock Exchange.
Areva said the deal would give it access to the technology, financial means, and expertise to speed up development especially in off-shore projects.
Repower is one of Germany's major wind turbine producers and is present in Europe, Japan, China, India and Australia.
Areva's move comes after it said its operating income would be considerably lower for 2006 than in 2005, but that it would "easily remain well in the black".
News of the deal also gave a boost to fellow companies in the wind power sector.
Sorry about the naff graff missing off the latest rise, Yahoo must update the yearly graphs on an overnight batch schedule.
Can we expect more consolidation as the big traditional energy companies swallow the comparitively tiny wind companies?
Takeover Ping! Don't you own shares in these guys?
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