Subscribe free to our newsletters via your
. Earth Science News .

British water firm Severn Trent rejects new 5bn pounds bid
by Staff Writers
London (AFP) June 03, 2013

British water supplier Severn Trent said Monday it had rejected an improved takeover bid of about 5.0 billion pounds from a consortium including Canadian and Kuwaiti investment companies.

"The board of Severn Trent, having consulted its financial advisers, has unanimously concluded that the revised proposal... fails to reflect the significant long term value of Severn Trent or to recognise its future potential," the water company said in a statement.

The new bid is priced at 2,125 pence per Severn Trent ordinary share, assuming that a final dividend for the year ending in March 2013 has already been paid by Severn Trent to its shareholders.

"If the announced final dividend was paid to shareholders, then the revised proposal valued each ordinary share at 2,079.49 pence," the statement added.

That values Severn Trent at 4.96 billion pounds ( 47.57 billion, 5.82 billion euros).

The consortium's initial bid last month had stood at 2,047 pence a share. The consortium comprises Canadian group Borealis Infrastructure Management Inc., the Kuwait Investment Office and British pension fund Universities Superannuation Scheme Limited.

Severn Trent's share price dipped 0.10 percent to stand at 2,050 pence in afternoon deals on London's benchmark FTSE 100 index, which was down 0.44 percent at 6,553.55 points.

The stock had surged almost 14 percent in value following the initial bid in May.


Related Links
Water News - Science, Technology and Politics

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Monsoon rains arrive in India, bring cheer to farmers
New Delhi (AFP) June 01, 2013
The annual monsoon, crucial to India's food output and economic growth, hit the southwest coast on Saturday, bringing cheer to farmers and boosting hopes for the struggling economy. The keenly awaited rains lashed the state of Kerala and parts of neighbouring Tamil Nadu and will now sweep across India, resulting in torrential downpours over the coming months for hundreds of millions of farme ... read more

Japan disaster cash spent on counting turtles: report

Agreement over Statue of Liberty security screening

No health risk from Fukushima radiation: UN

Japan nuclear lab accident affected 30: agency

Radiation Exposure Associated with a Trip to Mars Calculated

After factory shutdown, Italian workers 'recycle' jobs

Radiation Measured by Curiosity During Mars Trip Has Implications for Human Missions

NASA, Researchers Use Weightlessness of Space to Design Better Materials for Earth

Monsoon rains arrive in India, bring cheer to farmers

British water firm Severn Trent rejects new 5bn pounds bid

Sharks worth more in the ocean than on the menu

Climate change threatens extinction for 82 percent of California native fish

Russian scientists make rare find of 'blood' in mammoth

Study explores atmospheric impact of declining Arctic sea ice

The Antarctic polar icecap is 33.6 million years old

Slovenian flyer completes eco-friendly Arctic voyage

Improving 'crop per drop' could boost food and water security

Researchers help threatened wheat crops in Asia

Pork takeover shows China hunger for foreign feasts

Asia concerns spread due to rogue US wheat

Ten dead, thousands evacuated as floods sweep Europe

Strong quake kills two, injures 21 in Taiwan

Death toll from Taiwan killer quake rises to four

NASA's HS3 Mission May Target Cape Verde Island Hurricanes in 2013

Japan, eyeing China, pledges $14 bn aid to Africa

Climate change drowning the 'Venice of Africa'

Outside View: Somalia's Jubaland

Nigeria says women, children held by Boko Haram freed

Study: African terrain may have pushed humans into walking on two feet

170,000 living in subdivided flats in Hong Kong: study

Monkey teeth help reveal Neanderthal weaning

China newborn rescued from toilet pipe: report

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement