British Energy set for fresh bid

Published Date: 22 September 2008

FRENCH power giant EDF was yesterday said to be on the verge of tabling an improved £12.4 billion offer for nuclear power group East Kilbride-based British Energy.
The deal, which could be unveiled this week, is said to be worth 774p a share, 9p higher than the offer made in July.Opposition from major shareholders, such as investment groups Invesco and M&G, scuppered the original deal.There were fears that it undervalued British Energy at a time when the value of energy assets was rising.