Aleo Solar Climbs 23% in Germany to Exceed Buyout Price by Robert Bosch

Aleo Solar AG climbed above a takeover bid in Frankfurt electronic trading, indicating majority owner Robert Bosch GmbH may be asked to increase its offer for the profitable solar-panel maker.

The stock surged as much as 23 percent to 23.50 euros after Stuttgart-based Robert Bosch, the world’s largest automotive supplier, offered 22 euros a share for the 18 percent of Aleo Solar it doesn’t already own or control through share-purchase agreements. The offer was detailed today in a regulatory filing.

Aleo Solar’s enterprise value, a measure of its takeover price, is 2.9 times its earnings before interest, tax, depreciation and amortization, a lower multiple than its closest German competitors such as Phoenix Solar AG, Solarworld AG and Conergy AG, according to Bloomberg data.

To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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