Beginning Consolidation in the Renewable Energy Industry and Bidders' M & A-Success

Eisenbach, Sebastian; Ettenhuber, Christoph; Schiereck, Dirk; von Flotow, Paschen
May 2011
Technology & Investment;May2011, Vol. 2 Issue 2, p81
Academic Journal
In this paper we examine stock price reactions to mergers and acquisitions in a particular industry, the renewable energy industry. We focus on acquirers and document positive abnormal returns on a sample of 337 completed M & A-transactions announced during 2000 to 2009. We show that acquirer size, market-to-book ratio and deals announced in the recent financial crisis negatively correlate with acquirer returns. Acquirers from outside the renewable industry tend to earn positive abnormal results.


Related Articles

  • ConEdison Solutions Advances National Growth Strategy with Recent Acquisition.  // Transmission & Distribution World;Jun2008, Vol. 60 Issue 6, p10 

    The article reports that energy services company ConEdison Solutions has acquired Custom Energy Services Inc. ConEdison Solutions is owned by holding company Consolidated Edison Inc. Jorge Lopez, chief executive officer (CEO) and president of ConEdison Solutions said that the acquisition will...

  • Ontario To Merge Provincial Power Agency, Grid Operator.  // Energy Daily;4/23/2012, Issue 78, p6 

    The article discusses the proposed merger of the Ontario Power Authority and its Independent Electricity System Operator. The Liberal government of Premier Dalton McGuinty announced on April 18, 2012 its plan to propose legislation for the creation of a single agency that would allow for a...

  • Industry Update.  // MarketWatch: Energy;May2007, Vol. 6 Issue 5, p3 

    The article offers news briefs related to the energy industry in Europe. Energy company E.ON AG has withdrawn its plan to acquire Endesa SA. Gazprom company has announced its plan to enter the power generation market. CEZ SA has introduced its plan for electricity growth focusing on renewable...

  • Iberdrola. Loveday, Trevor // Utility Week;5/13/2005, Vol. 23 Issue 16, p24 

    Profiles Spanish energy company Iberdrola. Strategic plan of the company to double its sales; Renewable energy resources being used by the company; Investments made by the company outside Spain to consolidate its established businesses in Brazil and Mexico.

  • Purchase puts International Power in wind farm top 10.  // Professional Engineering;8/15/2007, Vol. 20 Issue 15, p9 

    The article reports on the 586 million British pound deal to buy renewable energy company Trinergy by International Power in Great Britain. It will raise its total wind turbine capacity to more than 1,000 mega watts, taking into the top 10 of operators. The purchase follows a similar deal for...

  • South African Department of Energy seeks to improve process for renewable energy deals.  // World Energy News;9/1/2014, p1 

    No abstract available.

  • UK policy curbs investor enthusiasm.  // Utility Week;5/20/2011, Vol. 34 Issue 19, p7 

    This article reports on the record levels of renewable energy mergers and acquisitions across the world in the first quarter of 2011.

  • Hudson Fills Up With Helium. Lee, Michael // Red Herring;10/1/2008, p2 

    The article reports on the acquisition of Helium Energy by Hudson Clean Energy Partners' portfolio company Element Power. Element Power was established in July 2008 to provide carbon-free, utility-scale wind and solar power. Through the acquisition, renewable energy development company Helium...

  • Feature Analysis.  // MarketWatch: Global Round-up;Jun2008, Vol. 7 Issue 6, p180 

    The article offers news briefs related to global energy business sector. Exxon Mobil Corp. projects that liquefied natural gas (LNG) demand is expected to increase wherein Atlantic Basin needs more supply of LNG due to the increasing costs and technological challenges. Gazprom announces that it...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics