International Power Ready to Strike Deal with GDF: Creating Biggest Power Groups in World
Britain’s power generating firm, International Power is seemingly close to concluding a deal about merging with GDF Suez, a French energy giant, which would create one of the biggest power groups in the world.
The board of International Power is going to have a meeting today, so that, it can suggest GDF’s offer that would involve the French group reimbursing a special dividend worth £1.3 billion for the investors of the UK firm, as informed by the Financial Times.
Both the power firms have been working out on the merger deal for the past seven months and refreshed the talks in the previous month, after discussions that had been taking place in January in this year, broke down.
The firms have finally settled upon a 400 pence-a-share tender that is valued at £11.2 billion.
Previously, International Power showed a passive level response since there was no cash element lined in with the tender that would make its approx. 360,000 investors ready to say a ‘yes’ to the accord.
In order to make the deal look more attractive for the International Power investors, GDF has settled upon the £1.3-billion special level bonus.
The deal is going to materialize prior to any rules taking place that would make the takeovers more complex.
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