French power firm may put together new energy bid
Published Date:
08 September 2008
The stalled takeover of nuclear power firm British Energy (BE) by France's EDF could be back on within weeks.
The French power giant has held talks with some of BE's biggest investors who scuppered a £12bn deal in July.
EDF is said to be hopeful of clinching a deal in the next two weeks before its board meeting on September 17. BE produces one-sixth of Britain's electricity.
Discussion between EDF and Invesco Perpetual, BE's second biggest shareholder with a 15 per cent stake, were reportedly at an early stage although M&G, which has 7 per cent, has not entered discussions.
EDF has put forward a straight cash bid but reportedly offered to improve the potential payout under a cash and paper alternative which would give shareholders a bigger slice of potential profits as energy prices soar.
EDF is majority owned by the French Government.
BE also owns a coal-fired power station at Eggborough in Yorkshire.
The full article contains 194 words and appears in n/a newspaper.
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Last Updated:
08 September 2008 8:09 AM
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Source:
n/a
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Location:
Yorkshire
