Suzlon surges on REpower acquisition

DALAL STREET SPIKES

Shares of wind-turbine maker Suzlon Energy rose to Rs 1,420 before settling at Rs 1,378.45, up 18.94 per cent from its previous close of Rs 1,158.90.

The company announced its intentions to acquire Germany's REpower Systems AG, on reaching an agreement to end a bidding war with French nuclear energy company Areva SA. The deal size is estimated to be ¤1.35 billion.