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MarketScreener Homepage  >  Equities  >  Xetra  >  E.ON SE    EOAN   DE000ENAG999

E.ON SE

(EOAN)
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E.ON to Pursue Merger Squeeze-Out at Innogy

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09/04/2019 | 01:05pm EDT

By Pietro Lombardi

E.ON SE said Wednesday that it intends to carry out a merger squeeze-out as part of its planned takeover of Innogy SE to fully integrate the company into the E.ON group.

Minority shareholders will receive "adequate cash compensation," it said.

The German utility said it wants to swiftly integrate Innogy as soon as the European Commission approves the deal.

"This procedure, known as a merger squeeze-out, provided for in company law applicable from a shareholding of 90 percent, allows us to implement the integration plans, which have been developed together with innogy during the last months, as swiftly as possible," Chief Executive Johannes Teyssen said.

The takeover is part of a complex deal between E.ON and Innogy's parent company RWE AG, which would effectively split Innogy's assets between the two companies.

RWE would retain control over Innogy's renewable-generation centers, while E.ON would take over the retail and distribution networks.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE -0.63% 9.018 Delayed Quote.5.19%
INNOGY SE -0.60% 44.5 Delayed Quote.9.92%
RWE AG 2.92% 28.19 Delayed Quote.44.42%
WTI -0.58% 58.45 Delayed Quote.36.21%
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Financials (EUR)
Sales 2019 30 522 M
EBIT 2019 3 016 M
Net income 2019 1 405 M
Debt 2019 3 954 M
Yield 2019 5,28%
P/E ratio 2019 14,0x
P/E ratio 2020 13,8x
EV / Sales2019 0,77x
EV / Sales2020 0,46x
Capitalization 19 543 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 9,57  €
Last Close Price 9,05  €
Spread / Highest target 43,6%
Spread / Average Target 5,72%
Spread / Lowest Target -14,4%
EPS Revisions
Managers
NameTitle
Johannes Teyssen Chairman-Management Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Karsten Wildberger Chief Operating Officer-Commercial
Marc Spieker Chief Financial Officer
Ulrich Lehner Deputy Chairman-Supervisory Board
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