As previously announced the Swiss solar company is looking to acquire Germany-based Roth & Rau for 22 per share. It says that its offer is 40.04 percent above the 15.71 average share price of Roth & Rau shares, according to the FFSA, as of April 10, 2011. It currently owns 17.7 percent of Roth & Rau.
As per the offer document, Roth & Rau shareholders may accept Meyer Burgers offer for their shares from today, May 5 until June 3.
The purpose of the takeover is to allow Meyer Burger to strengthen both its solar cell offerings and its photovoltaics production processes.
Peter Pauli, Meyer Burger CEO comments: "At 22, we offer a most attractive takeover price to the shareholders of Roth & Rau AG. The new combined group will play a crucial role in further reducing the costs along the value chain in photovoltaics. We thereby create strong added value for the entire solar industry."