Advanced Energy withdraws offer for XP Power
Business news
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By
Peter Clarke
Power supply maker Advanced Energy Industries Inc. (Denver, Colorado) has said it no longer intends to make an offer for the shares of UK-based XP Power Ltd.
On May 21 Advanced Energy announced a possible offer of £19.50 per share in cash for XP (see Advanced Energy announces cash bid for XP Power Limited). Advanced said the companies had been unable to agree the price and that it could not justify improving the terms of its potential offer.
Advanced Energy said it continues to look for investment opportunities within the broader precision power industry.
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