MADRID (Reuters) -Spanish stock market regulator CNMV on Monday authorised Siemens Energy's 4.05 billion euro ($4 billion) bid for the shares in its Spanish unit Siemens Gamesa it does not own.
Siemens Energy announced in May a plan to buy the remaining third of wind turbine maker Siemens Gamesa to improve its control over operational problems at the division that issued three profit warnings in less than a year.
The 18.05 euros per share bid constitutes a premium of 27.7% over the last unaffected closing share price of Spanish-listed Siemens Gamesa, which rose 0.3% at 17.99 euros in early trade on Monday.
The tender offer will stay open for 36 days following Siemens' first public announcement, the regulator said.
Siemens Energy said on Monday it intends to launch the offer "shortly". It had previously said it expected to make a bid in September.
It has also said that if it reaches 75% ownership in Siemens Gamesa, it would hold an extraordinary shareholders' meeting to approve a delisting of the Spanish company.
($1 = 1.0032 euros)