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Fortum Says Only 0.47% Of Addl Uniper Shares Has Been Tendered - Quick Facts

Finnish energy company Fortum Oyj announced Wednesday that only an additional 0.47 percent of shares has been tendered in addition to E.ON's stake after the expiry of the additional acceptance period of the takeover offer to the shareholders of German energy generation and energy trading company Uniper SE, a subsidiary of E.ON SE (EONGY.PK).

This take the total acceptance rate to 47.12 percent. Upon completion of the takeover bid, a total of 172.44 million shares would change hands.

During the entire acceptance period of the takeover offer, Uniper's stock market price was well above the offered 21.31 euros per share, despite the weak stock market.

Uniper's Management and Supervisory Boards had urged shareholders not to accept the voluntary public takeover offer from Fortum as the offer price does not reflect Uniper's value.

Uniper's CEO Klaus Schäfer said, "We are strengthened by the trust placed in us by our shareholders, who overwhelmingly followed our recommendation and did not accept the takeover offer. This shows us that the capital market continues to believe in our strategy and our longterm competitiveness as an independent company."

by RTT Staff Writer

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