PepsiCo buys SodaStream to reach consumers 'beyond the bottle'
Gunshots fired at U.S. embassy in the Turkish capital
Tesla's Shares Slump Following CEO Elon Musk's NYT Interview
Nvidia falls as crypto demand evaporates
President Trump Is Interested in a Major Shakeup for Corporate Earnings Reports
Eon to acquire Innogy from RWE in strategic renewables deal
13 March 2018, 03:50 | Austin Hogan
RWE logo in Essen Germany
Uwe Tigges, chief executive officer at innogy, said it would be commenting on announcements from RWE and E.On "in due course".
Following completion of the transaction, RWE would combine ownership of the renewables businesses of E.ON and innogy to create a leading European utility for renewables and security of supply with a broadly diversified portfolio of renewable and conventional generation assets, which would be linked via our existing trading business.
RWE, which owns 76.8 percent of Innogy, saw its shares gain as much as 14 percent and E.ON was up 6 percent.
"It was a competitive process", one of the sources said, adding that RWE had chose to strike the deal with E.ON after considering proposals from peers.
Innogy is understood to have been caught off-guard by the agreement struck by its parent company RWE over the weekend, but sources believe the company may already be developing contingency plans to steady the deal with SSE.
It would leave E.ON operating primarily as an energy networks and retail specialist, with RWE significantly strengthening its position in the renewables and clean energy generation markets.
Germany's power companies are reshaping as they look to boost green energy output, shift away from fossil fuels and prepare for Germany's exit from nuclear power in 2022. Further, RWE will receive the minority interests now held by E.ON's subsidiary PreussenElektra in the RWE-operated nuclear power plants Gundremmingen and Emsland.
And the deal could see the creation of a new European renewables giant.
RWE is being advised by Bank of America Merrill Lynch and Citi on the deal, E.ON has hired Perella Weinberg Partners and BNP.
The planned large-scale asset swap went down well with shareholders. Today it reported 2017 results, saying its adjusted net profit grew by 9% to more than Euro 1.22 billion.
Stormy Daniels offers to pay back hush money
The injunction may seek to silence Daniels by citing the nondisclosure agreement - although CBS is not party to it. Cohen, did not immediately respond to a request for comment on the letter , nor did Cohen's attorney.
Tim McGraw collapses on stage during concert
Tim McGraw was performing on stage with his wife Faith Hill when the concert had to be cut short after he fell ill on stage. After a while, McGraw's wife and co-headliner Faith Hill came out to tell the crowd McGraw could not finish the concert.
How has Shami responded to the allegations made by his wife?
Jahan on Friday disclosed that several of Shami's relatives had been trying to call her ever since she made the police complaint. Following all the events, Shami's annual contract has also been withheld by the Board of Control for Cricket in India ( BCCI ).
Record-breaking performances at NCAA Indoor Championships
The Manhattan College men's and women's track and field teams took a trip down to 216 Fort Washington Avenue on February 17-Feb. Also breaking a meet record on Saturday was CSU-Pueblo's Thomas Staines , who posted a blistering time of 1:47.23 in the 800.
No. 15 Arizona, USC battle for Pac-12 crown
This was the third straight year, and sixth time in seven seasons, the Buffaloes and Wildcats have met in the Pac-12 Tournament. There shouldn't be a debate whether the gargantuan freshman is the most dominant player in college basketball.