E.on Se · XETR:EOAN
E.on — Merger or Acquisition (April 2007)
8 slides from E.on's merger presentation, Apr 3, 2007
Slide 1: E.ON and ENEL/Acciona Reach Agreement on Endesa
E.ON and ENEL/Acciona Reach Agreement on Endesa April 3, 2007
Slide 2: E.ON yesterday reached an agreement with Enel/Acciona concerning its position in relation to Endesa
E.ON yesterday reached an agreement with Enel/Acciona concerning its position in relation to Endesa y It now looks unlikely that E.ON’s tender offer for Endesa will be successful, given E.ON’s 50.01% acceptance threshold y E.ON has therefore decided that it is in everyone’s interest to reach a swift
Slide 3: This agreement delivers on E.ON's strategic objectives, creates value for shareholders, and removes uncertainty
This agreement delivers on E.ON’s strategic objectives, creates value for shareholders, and removes uncertainty Current Situation Benefits of the Agreement y As Enel/Acciona, together with SEPI, y Pragmatic solution found which delivers now own almost 50% of Endesa, it is on E.ON’s strategic objecti
Slide 4: Conditions of the agreement ensure that interests of E.ON and Endesa shareholders are protected
Conditions of the agreement ensure that interests of E.ON and Endesa shareholders are protected y E.ON will not accept any shares in Endesa if fewer than 50.01% of Endesa’s shares are tendered y Enel/Acciona will have to successfully complete their announced tender at a price of at least 41€/share y
Slide 5: Agreement enables E.ON to acquire strong growth positions in Europe
Agreement enables E.ON to acquire strong growth positions in Europe Spain Italy France Viesgo1 + additional generation Endesa Italy SNET assets y 7.0 GW capacity (of which y 2.5 GW capacity y 4.3 GW generation capacity minimum 70% for E.ON) y No. 3 position in the French y 2.4 GW Enel Viesgo y No. 3
Slide 6: E.ON also achieves its objective of a strong pan-European position
E.ON also achieves its objective of a strong pan-European position Nordic #4 in power generation United Kingdom #3 in power/gas retail #2 in power generation #2 in power/gas retail European gas supply #1 in gas supply France #3 in power generation CEE including Germany #2 in power generation Spain #
Slide 7: Summary
Summary y E.ON is disappointed that its tender offer for Endesa is unlikely to succeed, and still believes that this would be the best solution for all stakeholders y E.ON has conducted this process fully in accordance with its values of openness and integrity to ensure that the market functions pro
Slide 8: On January 26, 2007, E.ON Aktiengesellschaft (“E.ON”), through its wholly owned subsidiary E.ON Zwölfte
On January 26, 2007, E.ON Aktiengesellschaft (“E.ON”), through its wholly owned subsidiary E.ON Zwölfte Verwaltungs GmbH, filed a tender offer statement on Schedule TO regarding its tender offer for ordinary shares and ADSs of Endesa S.A. (“Endesa”) with the U.S. Securities and Exchange Commission (