Bid fear grips power
Monday 07 August 1995
The electricity sector braced itself for new takeover bids after intense speculation sent shares higher on Friday. The possibility of an impending government announcement on references of bids to the Monopolies and Mergers Commission was seen as an obstacle, and could lead to the delay of firm offers. However, senior industry sources expect the Government to stick to its case-by-case approach.
London Electricity has put in place its plans to respond to an offer, although its chairman, Sir Bob Reid, told the annual meeting on Friday the company was not in talks. But Pacific Gas & Electricity, a US utility, was rumoured as a potential bidder.
Yorkshire and East Midlands are also seen as attractive targets. Their shares rose, along with those of Seeboard and South Wales, at the end of last week in the expectation that the companies most vulnerable to bids would return cash to their shareholders.
At an extraordinary meeting on 16 August Northern Electricity will seek approval for its plans to give shareholders a pounds 1 special dividend and preference shares worth pounds 1.
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
- 5 Narendra Modi: Indian Prime Minister wears suit with pinstripes that spell his name to meet Barack Obama
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Pornhub star Mia Khalifa receives death threats after being ranked the site's top adult actress
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...