Fri, Oct 31, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Severn Trent rejects takeover approach from KIA and Canada’s Borealis

Posted on 15 May 2013

Severn Trent has rejected an approach from a consortium of Canadian and Kuwaiti investors, saying the £5.3bn proposal is too low. The FTSE 100 company, which supplies water to more than 4.2m households, met with Canada’s Borealis, the Kuwait Investment Office and the Universities Superannuation Scheme yesterday, causing Severn Trent’s shares to jump 14pc.
“At that meeting, a conditional proposal was tabled by the Consortium at only a modest premium to the share price before the announcement of May 14. The board of Severn Trent has reviewed the proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent,” the company said………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15073 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031