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PARIS (AP) — French power giant EdF said Wednesday it has agreed to acquire British Energy Group PLC in a cash offer valued at 12.5 billion pounds ($23.18 billion), creating a cross-Channel powerhouse in nuclear energy.
EdF's bid of 774 pence for every ordinary share of the British nuclear power plant operator amounts to an increase of nine pence per share from the bid that French company made in July — but was rejected by British Energy.
The deal for Britain's biggest electricity producer would give the combined company extra heft in nuclear power: EdF is the world's largest nuclear plant operator, running all 58 of France's nuclear reactors.
French state-controlled EdF said in a statement that the companies' administrative boards had reached a deal on the offer to be made by Lake Acquisitions Limited — a fully owned subsidiary of EdF.
Originally posted by Maxmars
Pardon my American nose being stuck into your business, but aren't you guys allowing too much consolidation of power (pun, he he)?
So what is this company, a French monopoly? To me the whole EU thing smack of a large scale commercial operation. I don't know why, but I figured the older cultures and nations of the world would have been more, resistant, to such undertakings.
America at least has the excuse of being a younger country overrun by corporate fascists. But you guys should know better.
[edit on 24-9-2008 by Maxmars]