The CEO of Endesa has told compatriot suitor Gas Natural to increase its offer to compete with E.ON or to stop its peculiar behavior, Spanish newspaper El Pais has reported.
According to the paper’s article, Endesa’s chief executive officer, Rafael Miranda, has challenged Gas Natural to submit an improved offer or stop doing strange things.
What Gas Natural has to do is stop doing strange things, and – if that is what they really want – to increase its offer, El Pais reported Mr Miranda as saying.
Apparently, Gas Natural believes that Endesa has been giving German takeover rival E.ON favorable treatment by passing the Dusseldorf firm inside information. However, legal challenges by Gas Natural regarding the issue have only succeeded in irritating Endesa’s senior management.