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

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.