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4-Traders Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Fortum Oyj    FORTUM   FI0009007132

FORTUM OYJ (FORTUM)
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Uniper CEO criticises suitor Fortum for lack of clarity

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12/30/2017 | 01:16pm CET
FILE PHOTO: The logo of Uniper SE is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba

The chief executive of German energy producer Uniper (>> Uniper SE) has criticised Finnish suitor Fortum (>> Fortum Oyj) for a lack of clarity about its intentions in a planned 8 billion euro (7.1 billion pounds) takeover of the company.

The chief executive of German energy producer Uniper (>> Uniper SE) has criticised Finnish suitor Fortum (>> Fortum Oyj) for a lack of clarity about its intentions in a planned 8 billion euro (7.1 billion pounds) takeover of the company.

Fortum has agreed to buy 47 percent of Uniper from Uniper's parent E.ON (>> E.ON) and offered the same price to the other shareholders, but it faces pressure to raise its offer from hedge funds Elliott and Knight Vinke, who have built up stakes.

Meanwhile, the Finnish utility is dragging its feet over job guarantee negotiations, Uniper Chief Executive Klaus Schaefer told the Rheinische Post newspaper in an interview published on Saturday.

"Talks are not going as speedily as we would like," he said. "Fortum is still failing to provide clarity about its goals."

Just 0.17 percent of outstanding Uniper shares had been tendered to Fortum by Dec. 27, at the offer price of 22 euros per share. The shares closed at 26 euros on Dec. 29. The offer closes on Jan. 16.

Knight Vinke has 5 percent of Uniper and has said it will not tender its stake. Elliott, which has not said how it will respond, has 7.4 percent.

(Reporting by Georgina Prodhan; editing by Jason Neely)

Stocks treated in this article : Fortum Oyj, E.ON, Uniper SE
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Financials (€)
Sales 2017 4 363 M
EBIT 2017 859 M
Net income 2017 821 M
Debt 2017 882 M
Yield 2017 5,67%
P/E ratio 2017 19,71
P/E ratio 2018 20,24
EV / Sales 2017 3,84x
EV / Sales 2018 3,92x
Capitalization 15 853 M
Chart FORTUM OYJ
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Fortum Oyj Technical Analysis Chart | FORTUM | FI0009007132 | 4-Traders
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 17,6 €
Spread / Average Target -1,3%
EPS Revisions
Managers
NameTitle
Pekka Ilmari Lundmark President & Chief Executive Officer
Sari Maritta Baldauf Chairman
Markus Heikki Erdem Rauramo Chief Financial Officer
Heinz-Werner Binzel Independent Director
Tapio Teuvo Kuula Non-Executive Director
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