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.
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