GCTAF - Siemens Energy says considering buyout offer for Siemens Gamesa

Siemens Energy (OTCPK:SMEGF) (OTCPK:SMNEY) said on Wednesday that it is considering a cash tender offer to buy the remaining one-third of outstanding shares of wind turbine maker Siemens Gamesa Renewable Energy (OTCPK:GCTAF) (OTCPK:GCTAY) it does not already own. "The outcome of this consideration is open... no decision has been made," Siemens Energy (OTCPK:SMEGF) said, following previous reports that it was looking at options for how to best acquire the remaining stake. Any offer is likely to contain only a small premium, according to Bloomberg; Siemens Gamesa (OTCPK:GCTAF) shares are down 33% YTD. Siemens Gamesa (OTCPK:GCTAF) has reported losses and lower than expected new orders, but "management seems to have understood how to solve some key issues," SimOne Trading writes in a bullish analysis published recently on Seeking Alpha.

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Siemens Energy says considering buyout offer for Siemens Gamesa