Advanced Energy Industries Shelves XP Power Takeover Plan
Portfolio Pulse from Benzinga Newsdesk
Advanced Energy Industries (NASDAQ:AEIS) has decided not to pursue a takeover of XP Power Limited (LSE: XPP) due to lack of progress in negotiations and inability to access necessary due diligence. The proposed offer was 1950p per share.
June 18, 2024 | 7:16 am
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NEUTRAL IMPACT
Advanced Energy Industries has decided not to proceed with the acquisition of XP Power Limited due to lack of progress in negotiations and inability to access necessary due diligence.
The decision to not proceed with the acquisition may have a neutral short-term impact on AEIS's stock price as the market had not fully priced in the acquisition. The lack of progress and inability to access due diligence were key factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100