21st Jun 2015 13:52
LONDON (Alliance News) - Canadian investment giant Borealis Infrastructure is considering a GBP5 billion approach for Severn Trent, two years after the FTSE 100 water company rejected an earlier takeover attempt, The Sunday Times reported.
The newspaper, citing "sources close to the situation", said it is understood that the two sides opened talks last month, and discussions are at an early stage with no certainty a deal.
The Sunday Times noted that two years ago Severn Trent rejected a GBP22 a share bid from a consortium comprising Borealis; the Universities Superannuation Scheme; and the Kuwait Investment Office. Severn Trent shares closed Friday at GBP20.55.
http://www.thesundaytimes.co.uk/sto/business/Companies/article1571664.ece
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