1st Dec 2015 13:30
LONDON (Alliance News) - Electricity grid operator National Grid PLC is thought to be among those eyeing a potential bid for ITC, the largest independent electricity transmission operator in the US, the Financial Times reported.
ITC on Monday said its board has started a strategic review which could result in the company putting itself up for sale. The group has a market value of around USD9.5 billion.
In addition to FTSE 100-listd National Grid, Spanish power group Iberdrola, Warren Buffett's Berkshire Hathaway vehicle and infrastructure investors like Macquarie and Borealis have all been cited as potential bidders, the FT said, citing a person with knowledge of the process.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
National Grid