Longtime shareholders in Siemens Gamesa Renewable Energy will likely be spared the decision to quit or wait patiently for the renewable energy revolution.
Shares of Siemens Gamesa Renewable Energy jumped 6.2% Monday after its major shareholder, Siemens Energy, on Saturday confirmed long-held expectations that it wants the wind turbine business to go private. It said it would pay €18.05 a share, or $19.25, for the remaining 32.9% of the subsidiary. Ultimately, cost-revenue synergies are expected, but the main reason it gives an acquisition is to accelerate the ongoing turnaround.
https://www.wsj.com/articles/siemens-energy-picks-a-good-moment-to-take-wind-turbines-private-11653324445?mod=rss_markets_main Siemens Energy Picks a Good Moment to Take Wind Turbines Private