Sunways recommends accepting LDK takeover offer
23. February 2012 | Industry & Suppliers, Markets & Trends | By: Becky StuartBoth the management board and the supervisory board of Germany-based Sunways AG have deemed the offered price of €1.90 per share by LDK Solar as "adequate".
In a statement released, Sunways says it believes the takeover by the Chinese solar company will involve "competitive advantages and promising international prospects". As such, it is recommending that Sunways’ shareholders accept LDK’s offer of €1.90 per share.
The shareholders have until March 26, 2012, to accept the offer. An additional acceptance period could begin on March 30 and end on April 12, if agreed upon. The statement continues, "Each Sunways shareholder must decide for himself/herself whether or not to accept the offer."
LDK and Sunways have worked together for many years, with LDK supplying the German company with raw materials. Since 2010, the two parties have also worked together on the production of Sunways’ solar modules.
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