Electricity takeovers: bid boost for power shares
Article Abstract:
UK electricity companies are attracting bidders from the US. This is partly because shares in UK electric utilities have dropped due to fears that they could be hit by a windfall tax if the UK Labor party wins an election. The share price drop has affected all electric utilities whatever their prospects. Dominion Resources has bid for East Midlands Electricity, a second bid in three weeks. Possible bid targets include London, Yorkshire and Southern and possible bidders include Florida Power and Light and Houston Energy.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Lang's veto halts power takeovers
Article Abstract:
National Power and PowerGen, the UK electricity generators, are not permitted to acquire Southern Electric and Midlands Electricity respectively. Ian Lang, the UK trade and industry secretary has announced a ban on the acquisition of the electric utilities by the generators. The shares of the four companies involved fell after the announcement. PowerGen holds a 21% stake in Midlands Electricity, while National Power holds 8% in Southern Electric.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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