Endesa: valoraciones y OPA a 41 euros/acción en 2007 (Valuations of Endesa and Purchase at 41 Euros/Share in 2007)

18 Pages Posted: 11 May 2006 Last revised: 19 Mar 2016

Pablo Fernandez

University of Navarra - IESE Business School

José Manuel Campa

University of Navarra - Madrid Campus - IESE Business School; National Bureau of Economic Research (NBER)

Date Written: March 15, 2016

Abstract

Spanish Abstract: Se aborda la compra de Endesa en 2007. Este documento contiene una valoración de las acciones de Endesa y 3 artículos publicados en enero y febrero de 2006 sobre el valor de las acciones de Endesa.

Finalmente, Enel y Acciona compraron el 92% de las acciones de Endesa a €41,3/acción en 2007. La evolución posterior de la cotización no parece justificar este precio. ¿Cómo se puede justificar? ¿Están contentos los accionistas de Enel con la compra de Endesa?

English Abstract: This paper contains three articles published in the economic newspapers Expansion, La Gaceta de los Negocios and Cinco Dias about the value of the shares of Endesa.

On January 6 and on January 18, 2006, we published that the value of a share of Endesa was 28 euro. On February 21, E.ON offered 27,5 euro per share of Endesa.

The paper also contains the main hypothesis and inputs of our valuation.

Notes: Downloadable document is in Spanish.

Keywords: Endesa, E.ON, Gas Natural, valuation, OPA

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Campa, José Manuel, Endesa: valoraciones y OPA a 41 euros/acción en 2007 (Valuations of Endesa and Purchase at 41 Euros/Share in 2007) (March 15, 2016). Available at SSRN: https://ssrn.com/abstract=900333 or http://dx.doi.org/10.2139/ssrn.900333

Pablo Fernandez (Contact Author)

University of Navarra - IESE Business School ( email )

Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

HOME PAGE: http://web.iese.edu/PabloFernandez/

José Manuel Campa

University of Navarra - Madrid Campus - IESE Business School ( email )

Camino del Cerro del Aguila 3
Madrid, 28023
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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