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Article: Endesa bid is reaching final stageEnel and Acciona make formal offerMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- April 12, 2007
- Author:
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Anthony DiPaola
International Herald Tribune
04-12-2007
In a proposal to Spain's stock market regulator, the Italian utility Enel said Wednesday that it and the Spanish builder Acciona would offer 41.30 a share in cash for the Spanish power company Endesa, one of the final steps in a 19-month takeover battle. The offer price includes interest that will be paid to Endesa investors for their shares, Enel said in a filing. Altogether, the offer values Endesa, Spain's largest power company, at about 43.7 billion, or $58.65 billion.The bid by Enel and Acciona beat a rival offer by the German utility E.ON. They agreed to sell some of Endesa's assets to E.ON.Acciona and Enel, which control about ...