Areva extends REpower offer period

Areva SA, the world's largest manufacturer of atomic power stations, extended its offer period for German wind-turbine builder REpower Systems AG, gaining extra time to consider topping a bid by Suzlon Energy.

Areva dropped a requirement that at least 50% plus one share be tendered, which allows it to stretch the deadline to May 4 from April 20, the Paris-based company said today. It did not announce a higher bid.

Suzlon, promoted by Tulsi Tanti, beat Areva's bid on April 10 with an offer of euro 150 per share. The two companies are competing to gain wind power production as governments seek to cut carbon emissions linked to global warming and reduce dependence on oil.

Areva owns 30% of REpower. Suzlon is bidding along with Martifer, a unit of Portuguese builder Mota-Engil SGPS SA that owns a quarter of REpower. Suzlon has bought a 7.7% stake in the Hamburg-based wind turbine builder.

Suzlon's offer beat Areva's bid of euro 140 per share, and Suzlon's latest price values REpower at euro 1.2 billion.