Chosen Path
Advanced Energy Industries shared the definitive decision that it will not be vying for the ownership of XP Power Limited. NASDAQ:AEIS disclosed this development on Tuesday.
Stalled Conversations
AEIS expressed that attempts were made to engage with XP Power’s board of directors. Yet, a notable lack of progress in aligning expectations on the value front hindered the process. Consequently, the requisite due diligence necessary for formulating a solid offer remained out of reach.
Singapore-based XP Power’s board previously turned down an acquisition proposal from AEIS, valuing the shares at £19.50 each in cash.
Final Stand
AEIS restated on Tuesday that it does not see any compelling factors that would warrant enhancing the terms of its potential bid. The proposed offer, set at 1950p per share, was crafted to encompass the potential of future market revival while considering the immediate challenges faced by XP Power both in the market and operationally.
Further solidifying its decision, Advanced Energy declared that it is actively exploring other investment avenues within the broader precision power sector.
Source: Press Release