SAN JOSE, Calif. - Solar gear maker Meyer Burger Technology Ltd. has acquired a 7.4 percent stake in rival Roth & Rau AG.
Meyer Burger will also launch a ''voluntary public takeover offer'' to acquire all remaining non-par value bearer shares of Roth & Rau held by public shareholders at a price of 22 euros per share in cash. The total deal is valued at 356 million euros ($512.7 million), according to reports.
Meyer Burger Group is a provider of systems and production lines for photovoltaics in the solar industry, and for the semiconductor and optics industries. Roth & Rau is a provider of production equipment for the manufacture of solar cells.
''Meyer Burger Group will strengthen its offerings in the solar cell process through the planned consolidation of both companies and combines the most important technology steps within the value chain of photovoltaics from crystalline silicon to complete solar systems, mainly in the production processes of wafering, solar cells and solar modules,'' according to the companies.