By Kim Richters

PNE AG (PNE3.XE) has agreed to a potential takeover offer from a Morgan Stanley (MS) subsidiary in a deal that values the company at about 306 million euros ($335.8 million), the German wind-energy company said Thursday.

Morgan Stanley infrastructure subsidiary Photon Management GmbH has offered EUR4 a share for all the outstanding shares, PNE said, with a minimum acceptance threshold of 50% plus one share.

PNE's supervisory and management boards support the offer, which represents a premium of around 31% to the share price on Aug. 26, before PNE first confirmed talks with Morgan Stanley's infrastructure division.

The potential buyer is planning to delist the company, PNE said.

At 0827 GMT, shares in PNE traded 4.2% higher at EUR4.02.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

October 10, 2019 04:46 ET (08:46 GMT)

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