Shares of XP Power fall after Advanced Energy drops possible takeover offer
18/06/2024 08:14
June 18 (Reuters) - London-listed shares of XP Power
XPP.L declined as much as 24% in early trade on Tuesday after
Colorado-based Advanced Energy Industries AEIS.O dropped a
possible 468 million pound ($593.8 million) all-cash offer for
the power converter solutions provider.
Advanced Energy Industries said it did not identify any
additional elements that would justify a revised proposal after
the previous potential offer was rejected last month by XP
Power.
($1 = 0.7881 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Mrigank Dhaniwala)
((abyjose.koilparambil@thomsonreuters.com))