Supervisory board and management board of REpower Systems AG (WKN 617703) have published their joint reasoned opinion concerning the increased takeover offer of Suzlon Windenergie GmbH which had been submitted to REpower on 10 April and the alteration of the AREVA offer from 17 April.
As stated several times before, Suzlon as well as AREVA is an appropriate strategic partner for the accelerated growth in the international wind energy industry. Thus, supervisory board and management board both approve the offer of Suzlon which provides a takeover price of € 150.00 per share, as the offer is € 10.00 higher than AREVA's competing offer of € 140.00 per share. Furthermore, the supervisory board and management board approve AREVA's waiver of the minimum acceptance conditions of more than 50 per cent, because thereby the transaction safety and comparability of both offers will be increased for the shareholders.? As this formal alteration happened within the last two weeks before the expiration of the offer deadline for the submission of quotations, the term of acceptance for both offers was extended to Friday, the 4th of May 2007, 12.00 a.m.
