Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4
Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 Siemens Energy Unclear On Spanish Regulator Nod For Siemens Gamesa Takeover – Siemens Energy (OTC:SMNEY) – Stocks to Watch
Siemens Energy AGSMNEYSMEGF is reportedly in talks with Spain’s stock market supervisor on a planned takeover bid for the struggling wind turbine maker Siemens Gamesa but is not sure when it will receive the required approval.
Siemens Energy in May unveiled plans to buy the remaining one-third stake in Siemens Gamesa for €4.05 billion ($3.99 billion), which requires Spanish regulator CNMV’s green signal.
Under a tentative timeline, Siemens Energy said the bid would launch in mid-September.
“We cannot comment on the timing of the Spanish regulator CNMV, and Siemens Energy has no influence on this. We would, of course, like to have a positive response as soon as possible, as we want to realize our objectives as quickly as possible,” Reuters reported citing the company’s emailed comments.
“However, if our offer is examined with due diligence, this will be in the interest of all shareholders and thus also in our interest. In any case, the exchange with CNMV is constructive and professional.”
On Wednesday, Reuters reported Siemens Gamesa would replace the head of its onshore unit due to recent financial losses that have piled pressure on the business.
