The news source quoted an insider source as saying that British Energy’s board is expected to recommend the offer following the meeting.
A positive recommendation favoring the offer could pave the way for an EDF board meeting to validate the offer, the source said. EDF’s latest offer is expected to enhance the contingent value rights component without altering the GBP7 cash component.
EDF’s initial offer was for acquiring British Energy at GBP7.65 per share, or GBP7 in addition to contingent value rights per share. Dow Jones has reported that there is speculation that EDF could also boost the cash component of its offer by GBP0.05 to GBP0.10, which represents the depreciation of the pound to the euro since the initial offer.
