China to review longer Swiss Meyer Burger's acquisition of Roth & Rau
Jul 19, 2011 - Swiss machine maker Meyer Burger (SWF:MBTN) said last night that the Chinese antitrust authorities extended the review of its acquisition of German photovoltaic (PV) technology firm Roth & Rau (ETR:R8R).
Meyer Burger launched a public offer for the shares of Roth & Rau in April 2011. As of the end of June, the Swiss company held a stake of 81.89% in the German firm.
The clearance by the Chinese authorities is the final condition in the tender offer. At this stage, Meyer Burger cannot say how long the extended review process will take. The Swiss company has no information that the authorities would have material concerns about the acquisition, CEO Peter Pauli said.