Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  E.ON    EOAN   DE000ENAG999

E.ON (EOAN)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

RWE likely to target Uniper assets after Fortum takeover-sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/13/2017 | 03:03pm CET
Innogy logo in Essen, Germany

Germany's RWE (>> RWE) is likely to buy Uniper (>> Uniper SE) assets that Fortum (>> Fortum Oyj) sells after the Finnish firm's planned 8.05 billion euro (7.18 billion pounds)takeover rather than launch a counterbid, investors and M&A sources said.

Germany's RWE (>> RWE) is likely to buy Uniper (>> Uniper SE) assets that Fortum (>> Fortum Oyj) sells after the Finnish firm's planned 8.05 billion euro (7.18 billion pounds)takeover rather than launch a counterbid, investors and M&A sources said.

State-controlled Fortum, under pressure from investors to do a big deal, bid for Uniper last month to try to snap up a 46.65 percent stake E.ON (>> E.ON) wants to divest.

Fortum is mainly interested in Uniper's assets in Sweden and Russia and less in its more polluting gas and coal fired power plants, which would be a better fit for RWE, the sources said.

"It is much cheaper for RWE to wait it out than embarking on a bidding war with Fortum," a person familiar with the deal said, adding that RWE would essentially be "cherry-picking".

RWE declined to comment on its plans on Friday.

Fortum, keen to expand its carbon-free energy business, said it had no plans for a restructuring and wants to be a long-term investor in Uniper.

However, Finnish business daily Kauppalehti on Friday quoted Fortum's head of generation Tiina Tuomela as saying that the company expects the power industry to stop using coal in the long term, without commenting on the company's short-term plans.

Investors doubt Fortum will hold on to all of Uniper's assets should its bid succeed.

"There is a chance that Uniper will be broken up," said Thomas Deser, fund manager at Union Investment, a Uniper shareholder, adding RWE could be interested in Uniper's 1.05 gigawatt Datteln 4 coal-fired plant.

Smaller deals would also be more in line with RWE's strategy of selective M&A.

RWE could easily sell stakes in its network and renewable unit Innogy (>> Innogy SE), in which it still holds 76.8 percent, to pay for parts of Uniper, the sources said.

Fortum has bid 22 euros per share for Uniper, which is trading at around 24 euros and any counterbid would have to be above 26 euros to compensate for a break-up fee, Andreas Schneller, fund manager at Swiss asset manager EIC, said.

"Chances for a counterbid are currently zero," he added.

Uniper, which is opposed to the deal, hopes that the Finnish government could shy away given expected ratings downgrades for Fortum, one of the people said. But Finland's Economy Minister earlier this week said it supported the deal.

(Additional reporting by Arno Schuetze in Frankfurt and Jussi Rosendahl and Tuomas Forsell in Helsinki; editing by Alexander Smith and Adrian Croft)

By Christoph Steitz and Tom Käckenhoff

Stocks treated in this article : RWE, Fortum Oyj, E.ON, Uniper SE, Innogy SE
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on E.ON
11/17 E ON : 1,400 E.ON employees register as stem cell donors
11/14 E ON : and CLEVER are creating an electric highway from Norway to Italy
11/14 E ON : CLEVER Are Creating Electric Highway From Norway to Italy
11/14 E ON : successfully refinances syndicated credit facility
11/13 E ON : Climate-conference participants could save additional 1,500 metric tons o..
11/12 E.ON SE : Climate-conference participants could save additional 1,500 metric ton..
11/10DJE.ON Partners With Clever to Build Electric Car Charging Network
11/10 E ON : and CLEVER are creating an electric highway from Norway to Italy
11/10 E.ON SE : E.ON and CLEVER are creating an electric highway from Norway to Italy
11/09 E ON : Wind Service attracts significant onshore wind customer in Scotland
More news
News from SeekingAlpha
11/11 E.ON's (ENAKF) Management on Q3 2017 Results - Earnings Call Transcript
11/10 E.ON SE ADR 2017 Q3 - Results - Earnings Call Slides
11/08 E.ON SE reports Q3 results
09/26 Fortum launches $9.5B bid for Uniper after securing E.ON stake
09/20 Fortum in talks to buy E.ON's Uniper stake for $9.7B
Financials (€)
Sales 2017 38 258 M
EBIT 2017 2 958 M
Net income 2017 3 751 M
Debt 2017 21 214 M
Yield 2017 3,04%
P/E ratio 2017 6,13
P/E ratio 2018 14,30
EV / Sales 2017 1,12x
EV / Sales 2018 0,85x
Capitalization 21 522 M
Chart E.ON
Duration : Period :
E.ON Technical Analysis Chart | EOAN | DE000ENAG999 | 4-Traders
Technical analysis trends E.ON
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 10,5 €
Spread / Average Target 7,0%
EPS Revisions
Managers
NameTitle
Johannes Teyssen Chief Executive Officer
Karl-Ludwig Kley Chairman-Supervisory Board
Leonhard Birnbaum Chief Operating Officer
Marc Spieker Chief Financial Officer
Ulrich Lehner Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
E.ON45.94%25 369
ENGIE18.03%41 064
NATIONAL GRID PLC-7.23%39 489
ELECTRICITÉ DE FRANCE13.70%34 732
SEMPRA ENERGY18.75%30 006
PPL CORP6.49%24 964