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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 CEST
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

FRANKFURT (Reuters) - 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.

FRANKFURT (Reuters) - 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
Stocks mentioned in the article
ChangeLast1st jan.
E.ON 0.31% 8.875 Delayed Quote.-2.35%
UNIPER SE -0.41% 24 Delayed Quote.-8.27%
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Financials (€)
Sales 2018 4 977 M
EBIT 2018 952 M
Net income 2018 840 M
Debt 2018 4 769 M
Yield 2018 5,96%
P/E ratio 2018 19,44
P/E ratio 2019 16,38
EV / Sales 2018 4,21x
EV / Sales 2019 4,13x
Capitalization 16 182 M
Chart FORTUM OYJ
Duration : Period :
Fortum Oyj Technical Analysis Chart | FORTUM | FI0009007132 | 4-Traders
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 18,2 €
Spread / Average Target 0,24%
EPS Revisions
Managers
NameTitle
Pekka Ilmari Lundmark President & Chief Executive Officer
Matti Juhani Lievonen Chairman
Markus Heikki Erdem Rauramo Chief Financial Officer
Heinz-Werner Binzel Independent Director
Kim Juhani Ignatius Director
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