Acquisition bid for Suzlon timed out
The bid from a potential investor, reportedly Vestas, to take over a majority equity position on the debt-stricken wind turbine manufacturer has expired to no avail. Disagreement on Suzlon's value was the main culprit, an Indian media reports.
Indian media CNBC-TV18 made international headlindykkees in February when it reported that Vestas was in talks with Suzlon about a minority acquisition. Even though the two parties did not exactly confirm the story, they did not deny it either. "We are open to additional acquisition opportunities," Vestas said at the time. Stakeholders, speaking in their preferred tongue, sent Suzlon's share price souring by around 30 percent.
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