ScottishPower Surges as E.ON Mulls [Pounds Sterling]10bn-Plus Bid
Byline: JAMES ASHTON
THE lights may go out on struggling ScottishPower's independence after German energy giant E.ON said it was mulling a [pounds sterling]10bn-plus cash bid.
E.ON, which already owns Powergen, was forced by the Takeover Panel to make a statement after SP's shares soared 211/2p to 5461/2p - close to a five-year high.
News that the German firm has appointed merchant bank Lazard for advice illustrates that big cross-border deals are back in vogue.
Deutsche Post is also pursuing trucker Exel and Saint-Gobain wants to buy plasterboard maker BPB.
SP has looked vulnerable since it announced plans in May to offload US arm …
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Publication information:
Article title: ScottishPower Surges as E.ON Mulls [Pounds Sterling]10bn-Plus Bid.
Contributors: Not available.
Newspaper title: Daily Mail (London).
Publication date: September 6, 2005.
Page number: 59.
© 2007 Daily Mail.
COPYRIGHT 2005 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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