EDF, which tabled a GBP12 billion bid for British Energy (BE) in July 2008, has reportedly offered an alternative cash-and-paper bid tied-in with BE’s future performance.
The news source reported that EDF’s negotiations with BE’s second-largest shareholder Invesco Perpetual are at a nascent stage, with insiders of the opinion that the outcome of the negotiation is still uncertain. Invesco owns a 15% stake in BE.
M&G, BE’s third-largest shareholder with a 7% stake, has said that it is not in talks with EDF. Industry observers are of the opinion that softening oil prices are forcing BE shareholders to rethink their price demands, according to the Financial Times.
