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Sovereign Wealth Funds Briefing - Categorized | Market

Severn Trent falls most in 6 years after takeover dumped

Posted on 13 June 2013

Severn Trent Plc (SVT) slumped the most in more than six years in London as Borealis Infrastructure Management Inc. and its Kuwaiti-British partners abandoned a 5.3 billion-pound ($8 billion) plan to take over the water utility.
Severn Trent fell 8.9 percent, the biggest drop since Oct. 9, 2006, on six times the average daily volume of the past three months. Bidders including Kuwait’s sovereign wealth fund said they decided against increasing their proposal after failing to get “meaningful engagement” from the U.K.’s second-largest publicly traded water company………………………………………..Full Article: Source


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