Spanish Bid by E.On Sparks Utilities Rush ; Market Report

Summary

---

NEWS of German utility giant E.On's Pounds 38 billion agreed bid for Spanish rival Endesa lit up City trading screens today, sparking the start of what it is thought will be wholesale consolidation of the European utilities market.

E.On's cash offer of e27.50 a share tops a hostile bid worth e21.30 from another Spanish utility, Gas Natural, and may be the first of many takeovers of utility companies across Europe.

See the full content of this document

Extract

---

Spanish Bid by E.On Sparks Utilities Rush ; Market Report

Late last year, E.On expressed an interest in making an Pounds 11 billion offer for Scottish Power - up 4p at 577p as 25 million shares changed hands - but failed to agree terms. City speculators ...

See the full content of this document

---