RWE says it won't bid for London Electricity

Article Abstract:

RWE AG of Germany, the biggest utility in Europe, is withdrawing its takeover offer for London Electricity, which is based in the UK. According to sources familiar with the deal, RWE is backing out from the bidding because of the "too high" asking price. Entergy Corp. of the US, the parent company of London Electricity was said to be asking for a price closer to two billion pounds sterling, up from 1.5 billion pounds sterling that was first thought to be the selling price. RWE's withdrawal makes Electricite De France SA and British Energy PLC as front-runners to acquire London Electricity.

Comment:

Is withdrawing its takeover offer for London Electricity, which is based in the UK, reportedly because of very high asking price

Asset sales & divestitures, Acquisitions & mergers, Electric Utilities, Electric Power Generation, Transmission and Distribution, London Electricity PLC, RWE AG

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Reed Elsevier maps out overhaul, changes at helm

Article Abstract:

Reed Elsevier PLC, a publishing company, intends to reorganize its management makeup in an effort to improve its financial performance. The restructuring involves the reduction of the firm's board of directors to one, from its previous level of three boards, as well as the appointment of a single chief executive. The move will lead to the discontinuation of the company's existing structure that features two co-chairman and three board of directors. Herman Bruggink and Nigel Stapleton, the co-chairmen, will stay on in the top post until a new chief executive has been named.

Comment:

To reorganize its management makeup in an effort to improve its financial performance

Organizational history, Publishing, Publishing Industries, Publishing industry, Reed Elsevier PLC

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