Siemens and Gamesa to merge wind businesses to create a leading wind power player
Siemens and Gamesa have signed binding agreements to merge Siemens’ wind power business, including wind services, with Gamesa to create a leading global wind power player. Siemens will receive newly issued shares of the combined company and will hold 59 percent of the share capital while Gamesa’s existing shareholders will hold 41 percent. As part of the merger, Siemens will fund a cash payment of €3.75 per share, which will be distributed to Gamesa’s shareholders (excluding Siemens) immediately following the completion of the merger (net of any ordinary dividends paid until completion of the merger). The cash payment represents 26 percent of Gamesa’s unaffected share price at market close on January 28, 2016. ….