French bid 'is best for BE'
Sunday 31 August 2008
British Energy (BE) will not get a better offer than French rival EDF's £12bn for a decade, Whitehall sources have claimed.
The Government, which has a 35.5 per cent stake in BE, wants it to accept the 765p-a-share offer. The Government hopes that EDF will use its nuclear expertise to build reactors with BE as part of its power station roll-out plan.
But leading shareholders Invesco and M&G scuppered a deal last month, saying that the offer should be higher due to rising energy prices. Neil Woodford, Invesco's head of investment, has since gone public suggesting that a merger with Centrica would be a better deal. However, sources said that many of BE's assets were likely to degrade in the coming years, and Mr Woodford was accused of "short-termism".
Business Secretary John Hutton has said that the BE/EDF deal was still possible within a fortnight, but it is thought unlikely.
- 2 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 3 University student in court for allegedly covering housemates' food in window cleaner and spit
- 4 Ryan Gosling posts tribute to 'Ryan Gosling Won't Eat His Cereal' creator Ryan McHenry
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
Garland shooting: Isis claims attack on Prophet Mohamed cartoon contest in Texas as its first action on US soil
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
General Election 2015: Photographic history of Bullingdon Club tracked down - including new picture of David Cameron in his finery
In defence of liberal democracy
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...