Energy Infrastructure | Zamudio, Spain | Corporate Acquisition
Siemens (ETR: SIE) and Spain's Gamesa (MCE: GAM) will secure unconditional approval from the EU to merge Siemens’ wind business with Gamesa, according to Reuters. In June, Siemens agreed to fund the deal with a cash payment of €3.75 per share to Gamesa stockholders. The combined company is set to have revenue of €9.3 billion and adjusted earnings of €839 million. Although Siemens shares traded in neutral territory on Thursday, Gamesa gained 1%.