Newspaper article from our research archive:

pounds 1.3bn US bid for East Midlands

Dominion Resources, the US electricity and gas company, is expected to launch a formal pounds 1.3bn takeover bid for East Midlands Electricity this morning.

Last night Dominion's UK advisers, investment bankers SBC Warburg, were believed to be putting together the finishing touches to the offer with their US counterparts, buyout specialists Wasserstein Perella.

The bid will probably value East Midlands shares at between 630p and 650p, giving a price range of pounds 1.25bn to pounds 1.3bn. The shares closed on Friday at 593.5p. The takeover bid will be the second by a US company for a privatised regional electricity company in the space of two weeks. Northern Electric isfighting a pounds 766m ...

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