British Energy attracted only one takeover bid before its deadline, from French national Electricité de France (EDF). But this week Brtisish Energy (BE) announced that it has been approached by two other firms, whose names are as yet undisclosed. The bids value British Energy at £11bn, lower than the £12bn previously expected and the firm’s share price is 715.5p, much lower than the 785p high in April.
With three competing bids and more possibly in the pipeline, the shareprice for BE is bound to increase. As mentioned in Oil Energy Money’s earlier post, Spain’s Iberdrola, Germany’s Eon and RWE and British company Centrica have all expressed interest and some may have joined together to encourage financing and government approval.
The decision process is expected to take weeks and probably months, so updates to come as we get them, but you can find yesterday’s articles at the Financial times or The Guardian
