Deals
Gamesa Jumps as Siemens Said to Talk to Iberdrola on Making Bid
- Iberdrola holds 19.7 percent of Gamesa and has board seats
- Combination would broaden reach of both wind turbine makers
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Gamesa Corp. Tecnologica SA shares surged the most in two and a half years following a report that Siemens AG is studying a bid for the Spanish maker of wind turbines.
Gamesa surged as much as 16.5 percent to 16.78 euros at 10:32 a.m. in Madrid trading, the biggest jump since July 2013, according to Bloomberg data. That gives Zamudio, Spain-based Gamesa a market value of 4.6 billion euros ($5 billion). Siemens rose almost 1 percent to 87.32 euros in Frankfurt.