Siemens Energy weighing bid for outstanding Siemens Gamesa stake [Reuters]
SIEMENS AG SPONS ADR (SIEGY)
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Source: Reuters
Siemens Energy weighing bid for outstanding Siemens Gamesa stake By Christoph Steitz , Andres Gonzalez 2 Min Read FRANKFURT/MADRID (Reuters) -Germany’s Siemens Energy is mulling a bid to buy the third of Siemens Gamesa it does not already own, the company said on Wednesday, hoping this will help it fix long-standing problems at the Spanish-listed wind turbine maker. Siemens Energy faces mounting shareholder pressure to seek control of Siemens Gamesa, in which it owns 67%, a stake it inherited as part of a spin-off from former parent Siemens. “Management is considering a cash tender offer for all outstanding shares in Siemens Gamesa Renewable Energy S.A. with the intention to delist,” Siemens Energy said in a statement. “The outcome of this consideration is open. No decision has been made and there is no certainty that a transaction will materialise.” Shares in Siemens Gamesa rose 11% while Siemens Energy traded 3.4% higher. At Tuesday’s close, the 33% stake in Siemens Gamesa was wort
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