Become a Member

Track your favourite stocks
Create & monitor portfolios
Daily portfolio value

Company	Chg	Chg %
Quickpicks
£	%
Add shares to your quickpicks to display them here!

Cancellation of Auction Procedure

20th May 2025 16:49

RNS Number : 4673J

Takeover Panel

20 May 2025

2025/4

OFFERS BY

DRAX BESS HOLDCO LIMITED

("DRAX BIDCO")

AND

PP BIDCO LIMITED

wholly controlled by two funds within the portfolio of funds managed by Foresight Group LLP

("Foresight BIDCO")

for

HARMONY ENERGY INCOME TRUST PLC

("HEIT")

On 16 May 2025, the Panel Executive announced that, in accordance with Rule 32.5 of the Takeover Code, it had established an auction procedure (the "Auction Procedure") for the resolution of the competitive situation in relation to HEIT.

Following the announcement earlier today by Drax Bidco that it would not be increasing the financial terms of its offer for HEIT at a price of 88p per HEIT ordinary share and that its offer was final, the Auction Procedure outlined in Panel Statement 2025/3 will not take place.

20 May 2025

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

POTDZGZKKGKGKZM

Related Shares:

FTSE 100 Latest

Value8,726.01

Change-52.04