Solar-Fabrik AG (SFX) had the biggest three-day advance in almost three months on speculation that the German solar-energy company may become a takeover target for Chinese operators shopping in Europe.
Solar-Fabrik shares rose more than 2 percent today before closing unchanged at 1.80 euros by the 5:30 p.m. close in Frankfurt. The early gain added to yesterday’s 16 percent jump and brought its increase over the past three days to 19 percent, the most for the same time period since Oct. 10.
The Freiburg-based module maker is a potential takeover target for Chinese producers because of a successful business model, access to German sales channels and a “very cheap” price, Stefan Freudenreich, an analyst with Equinet Bank AG, said yesterday.
Solar-Fabrik is in talks with other companies in the industry, including some from China, over possible cooperation agreements, Chief Executive Officer Guenter Weinberger said by phone yesterday. The manufacturer, which obtains solar cells in Asia to assemble modules in Germany, isn’t planning to sell new shares, making a takeover more difficult, he said.
To contact the reporter on this story: Stefan Nicola in Berlin at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org