British Energy, UK’s biggest electricity producer has announced that it received several offers of takeover valuing at more than 10.8 billion pounds. The company is in negotiations with three parties: EDF a group made up of Germany’s RWE, Spain’s Iberdrola and France’s Suez.

It had received only one offer, from EDF, last Friday. That bid was less than 700 pence per share.
RWE and Iberdrola are now exploring possibility of making a joint bid.
Suez is also negotiating with British Energy but is unlikely to bid before completing merger with Gaz de France. Suez is keener in participating in UK power plant construction and is pursuing a co-operation agreement with British Energy. British Energy, Scotland, informs that approaches are at initial stage and will take several weeks for finalisation. AS regards Suez’s approach there would be no major investment from their side till merger with Gaz de France is completed..

British Energy did not comment on this stand of Suez. Its eight power plants are beset with technical problems since last 2 years. The company is likely to benefit from government’s plan of building more nuclear power plants to avert electricity shortages. Government is keen on building power plants, with minimum emission of CO2.

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