British Energy seeks higher bids
On Monday British Energy Plc said that none of the takeover proposals it had currently received were above its share price as of 6 June 2008. The nuclear power company said that none of the proposals represented value for shareholders.
N. Rock drops at open as two rescue bids leftBritish Energy said, "The Board is clear that in current circumstances such proposals do not
represent value for shareholders as they fail to take proper account of the current forward price of electricity and the value of the Company's sites and people in the context of nuclear new build.
"The Board will continue to progress the opportunities available either through an offer for the Company or other partnering arrangements."
The company said that discussions with interested parties would continue but that there was no certainty that such discussions would lead to an offer being made.
So far only French firm EDF has made a firm bid for the company, worth 680 pence per share, although Germany's RWE and Spain's Iderdrola have also spoken to British Energy about a possible deal.
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