Areva overpowered for Repower

[Repower, 28 February, 6 March] SuzlonWindenergie have offered a friendly takeover of wind turbinemanufacturer Repower worth about 20% more than a separate bid fromFrance's nuclear technology champion, Areva. Already Repower's biggestshareholder, owning 29% of the company, Areva offered Eur105 per sharein January. On 28 February a counteroffer of Eur126 per share came fromSuzlon Windenergie, a joint venture of India's Suzlon Energy and thePortugese steel company Martifer, Repower's second biggest shareholderwith a stake of 25%. The Repower board issued approvals for both bidswithin days of their submission.