The battle for German wind turbine maker REpower hotted up Tuesday with the announcement that India's Suzlon Energy, the fifth-largest wind energy firm in the world, had raised its offer for the company to 1.22 billion euros (1.6 billion dollars).
Suzlon Wind Energie, the German unit of Suzlon, said in a statement that the Indian wind turbine manufacturer had increased its bid to 150 euros per REpower share from 126 euros previously.
The improved offer topped a rival bid of 140 euros per share from French company Areva, Suzlon said. In a preliminary reaction to the announcement, Areva said it would reconsider its own bid. "We will reconsider the matter," a spokesman for Areva told AFP.
"Since Suzlon has bought a block of shares at 150 euros, it's a modification of their existing offer and not a completely new offer, so the offer period will remain unchanged," the spokesman said. The French group therefore had a period of 10 days to decide whether to raise its own offer, he added.
Suzlon's chairman and managing director, Tulsi Tanti, said that "the decision to increase our offer was taken after careful analysis and review of potential synergies," Suzlon chief executive Andre Horbach said that the two firms "can strive for a top three position in all key wind markets."
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