Siemens Energy makes $4.3 billion Gamesa takeover offer

Siemens Energy makes $4.3 billion Gamesa takeover offer

Bloomberg: Siemens Energy AG will offer 4.04 billion euros ($4.27 billion) to buy the shares in Siemens Gamesa Renewable Energy SA it doesn’t already own, a long-awaited step in its efforts to turn around the troubled Spanish wind-turbine maker.

Siemens Energy has offered 18.05 euros per Siemens Gamesa share to fully acquire the company, it said on Saturday. Siemens Energy already owns 67% of the firm, which currently has a market value of 11.4 billion euros ($12 billion), according to data compiled by Bloomberg News.