http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/wind/renewable-energy-generation-rejects-takeover-bid.html

UK-based wind developer Renewable Energy Generation rejected a takeover offer this month, which its board said undervalued the company.

The proposal, from an undisclosed UK-listed entity, valued the company at near to £0.67 per share, comprising a mix of shares and cash consideration.
Having consulted with its major shareholders, the company’s board said the offer ‘significantly undervalued the company’.
The board said it has now ended discussions with the potential suitor, which has confirmed that it is not looking to make another offer in the company.
While its shares reportedly rose 27 per cent on Friday, REG’s shares dipped by nearly one per cent on Monday to close to £0.53 on a market capitalisation of £55.7m.
REG’s board is sticking by its strategy of investing £100m in new UK renewable energy projects in the next two years, while continuing to realise the value in its 560MW development pipeline, to enhance shareholder value.
REG Windpower operates nine wind projects in the UK, which have a combined capacity of close to 37MW, while REG Bio-Power operates a plant that creates fuel from waste vegetable oil.
REG began trading on the London Stock Exchange in 2005.