In a statement, E.ON said that, following the entrance of Acciona and Enel, it is E.ON’s view that the final capital ratios at Endesa are the decisive matter. E.ON added that it intends to concentrate entirely on this matter and simplify the process.
E.ON’s takeover offer has until now been subject to the following condition: The shareholders meeting of Endesa must pass the following changes to Endesa’s by-laws: amendment of Article 32 of the by-laws in order to eliminate the limitation of voting rights; amendment of further articles of the by-laws in order to remove the requirements concerning the composition of the board of directors and the qualifications on the appointment of a director or a chief executive officer.
E.ON states that it is withdrawing the above-named condition.
The other condition of E.ON’s takeover offer that E.ON acquires at least 529,481,934 shares of Endesa, representing 50.01% of its capital stock, although the tender offer remains unchanged.
