The bid battle for British Energy (BE), the nuclear generating company, looks like turning into a one horse race, with France’s EDF seen as the clear frontrunner to table an offer ahead of this week’s deadline. Centrica, the owner of British Gas, still has hopes of teaming up with EDF or Germany’s RWE, but a consortium bid is looking increasingly unlikely. EDF, which runs France’s nuclear industry, is intent on going it alone with a bid of around 600p-640p a share, which values BE, including the Government’s 35pc stake, at between £9.6bn and £10.2bn. RWE appears to have gone cool on the deal damaging the government’s prospects of maximising the price.
Telegraph 6th May 2008 more >>
A bid for British Energy could emerge this week at a price between 600p and 640p a share, according to reports yesterday which suggested that the government has failed in its attempt to pump up the price through an auction of its stake in the nuclear utility. One report said French utility EDF had been discussing an Anglo-French bid with Centrica, while another said EDF was determined to act alone and could table an indicative £6.2bn bid, or 600p a share, as early as this week. British Energy shares closed last week at 728.5p, valuing the company at £7.5bn.
Herald 5th May 2008 more >>
UK ENERGY firm Centrica is understood to be in talks with French counterpart EDF about creating a new company to mount an 11 billion bid for British Energy. Centrica is believed to want a 25 per cent stake in the joint venture to buy the East Kilbride headquartered company giving it guaranteed supply to feed its British Gas retail operation.
Scotsman 5th May 2008 more >>
Fungi could help clean up nuclear hotspots, scientists at a Scottish university have discovered. Researchers at Dundee University have found evidence that fungi can “lock” depleted uranium into a mineral form. This can make it less likely to find its way into plants, animals or the water supply.
BBC 6th May 2008 more >>
Scotsman 6th May 2008 more >>