27 May 2002 – German utility company RWE said Monday that it has completed the acquisition of the UK’s Innogy Holdings PLC after 83.02 per cent of Innogy shareholders accepted RWE’s offer.
The offer is thus unconditional and binding as of Monday, RWE said.
Innogy shareholders who accepted the offer over the past nine weeks will receive 275 pence in cash for each Innogy share.
RWE expects to acquire the remaining outstanding shares in the future, it said.
Including Innogy, RWE will have about 20 million energy customers, RWE said.
The merger has also obtained the necessary regulatory approvals.