|
|
Article: E.ON's bid for Endesa too low, Acciona saysMOVERSMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- November 13, 2006
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Kristian Rix
International Herald Tribune
11-13-2006
Acciona, the largest shareholder of the Spanish utility Endesa, said that Endesa should not become a unit of E.ON, which has made a 37.1 billion takeover bid. The offer by E.ON, a German utility, ''is below the real and the potential value of the company,'' Acciona, a Spanish builder, said in a statement Friday after announcing that it had raised its own stake in Endesa to 19.6 percent. Acciona said that it intended to keep the shares. E.ON and Acciona are trying to control a utility with about 22 million clients globally and which operates plants with an installed capacity of about 45,900 megawatts from Chile to Poland. E.ON wants to ...