Clipper Windpower agrees to £139.5m takeover offer from American rival UTC

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Wind turbine maker Clipper Windpower has agreed a £139.5m buyout by United Technologies Corporation in a deal which will buoy its finances ahead of a choppy outlook for the US wind energy sector.UTC will gain control of the 50.1 per cent stake in Clipper it does not already own and will provide an additional loan facility to assist with cash flow ahead of the transaction.Connecticut-based UTC will pay 65p-a-share, a 48 per cent premium on Clipper’s pre-bid closing price. “For Clipper right now this buyout by UTC is phenomenal. It gives it a significant cash injection to fight against some of its peers in this tough environment,” said Libertas Capital analyst Titus Menzies.Shares in Clipper jumped 30 per cent to 64p by mid-morning yesterday, making them one of the biggest gainers on the Aim market.Falling gas prices in the US and government austerity measures are likely to weigh on demand for wind energy in the US over the coming years, analysts said.But Mark Chaichian, Clipper’s business development director, said he was confident the deal would make good sense for UTC in the long term.“The outlook for the sector if you believe the markets is going to be a little rough in the short term,” said Chaichian. whatsapp KCS-content Monday 18 October 2010 7:43 pm Sharecenter_img Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Clipper Windpower agrees to £139.5m takeover offer from American rival UTC Show Comments ▼ Tags: NULLlast_img