Tuesday, March 20, 2018

E.on Says Could Gain Control of Innogy without Higher Offer

March 13, 2018

(Photo: Innogy)

E.ON could gain full control of Innogy without raising its 40-euros-per-share ($49.5) bid for minority shareholders, its Chief Executive said after clinching a deal to buy RWE (RWE.F)'s 76.8 percent majority stake in the group.

E.ON had identified multiple ways to do this, Johannes Teyssen told analysts during a call without specifying, adding the group would not fall victim to "funny ideas" by potential activist shareholders.

($1 = 0.8083 euros)

(Reporting by Christoph Steitz and Vera Eckert Editing by Edward Taylor)

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