Frankfurt (Germany), Nov 21 (EFE) .- The Board of Directors and the Board of Directors of the power plant operator and German energy marketer Uniper have recommended to the shareholders rejected the takeover bid (opa) made by Finnish power company Fortum, the company said today.
The German company's management consider that the 8,050 million euro offer submitted by Fortum does not reflect its true value, nor does it propose any strategic benefit.
Uniper CEO Klaus Schafer pointed out that "The document also does not clearly state what Fortum's true intentions are."
He added that he is not satisfied with the offer regarding the future of the facilities and the employees of Uniper, which was spun off from the German energy company E.ON last year.
Subsequently, E.ON undertook to sell its remaining stake of 46.65 percent to Fortum.
The chairman of Uniper's supervisory board, Bernhard Reutersberg, said the company "has evolved exceptionally well since it became independent, it is financially solvent and makes an important contribution to the security of gas and electricity supply in Europe. "
Uniper operates close to 40 gigawatts of power plants in Europe and Russia.
It has hydroelectric, coal and gas plants, as well as interests in gas pipelines, liquefied natural gas terminals and nuclear power plants throughout Europe.