Time flies so fast in energy storage it feels like a long time ago this deal was first announced. It came in a hectic period with other investments into the energy storage sector, including GE into home energy storage provide sonnen. It is clear that utility and traditional energy generation giants will need to buy there way into the market. Saft clearly was already a big business. My worry is for some of the smaller entities that get acquired or invested in. Often when a big company buys a smaller player they aren't quite sure what to do with it, or how to manage it, and the reason the company was worth buying ceases to be there (often that includes the top talent). All the same, expect more big investments and acquisitions in the coming months.
First announced in May, French power company Total has this week completed its tender offer to purchase the bulk of battery producer Saft’s shares in a deal worth an estimated $1.1 billion. The results of the public tender offer initiated by Total show that the oil company now owns 90.14% of Saft’s shares, a total of 23,456,093 individual shares.