Sunways recommends accepting LDK takeover offer23. February 2012 | Industry & Suppliers, Markets & Trends | By: Becky Stuart
Both 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.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 2934 views
- 2915 views
- 2816 views
- 2480 views
- 2242 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!