Advanced Energy withdraws potential XP Power acquisition; no offer to be made

ADVANCED ENERGY INDUSTRIES INC

Advanced Energy confirms it will not make an offer for XP Power (LSE: XPP) as of June 18, 2024.
Possible offer had been 1950p per share; AE cites lack of due diligence access and no justified improved terms.
Decision consistent with AE's financial discipline; targets acquisitions above cost of capital.
AE prohibited from announcing an offer for XP Power for six months under Singapore Takeover Code.

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