XP Power (GB:XPP) has released an update.
XP Power Limited has unanimously rejected an unsolicited acquisition proposal from Advanced Energy Industries Inc., which valued the company at 1,950 pence per share, stating the offer substantially undervalues the company’s worth and future potential. The board advises shareholders to take no action at this time and a further announcement will be made if necessary, while there remains no certainty of a future offer. Trading performance for the year has met the company’s expectations, suggesting a stable financial outlook.
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