| After the nuclear power company British Energy | | | | speculation and prospect of an imminent deal excited |
| announced that it was thinking about takeover | | | | the investors considerably. British Energy's eight nuclear |
| approaches earlier this year, and then subsequently | | | | power stations are Dungeness B in Kent, Hartlepool, |
| held talks and meetings with EDF of France, E.ON and | | | | Heysham 1 and 2 in Lancashire, Hinkley Point B in |
| RWE of Germany, and Iberdrola of Spain. It is the | | | | Somerset, Hunterston B in Ayrshire, Sizewell B in |
| French energy power house that has emerged as the | | | | Suffolk and Torness in East Lothian. The group, which |
| only formal bidder for the takeover and is now only | | | | has around 6,000 staff, also owns a coal-fired power |
| days away from clinching the £12 billion deal. | | | | station at Eggborough, East Yorkshire. |
| EDF has been one of the leading contenders to buy | | | | EDF executives now hope to be able to announce a |
| British Energy since the British Government effectively | | | | deal imminently. Centrica, the British power company, is |
| put the power company up for sale by announcing it | | | | also involved in some negotiations with EDF, they are |
| wanted to sell its 35% stake in the nuclear operator. | | | | seeking to secure a deal that would see it acquire |
| According to the BBC, EDF is now prepared to pay as | | | | 25% of British Energy. |
| much as 775p per share, after British Energy released | | | | The decisive takeover price for British Energy is still |
| that none of the potential deals took into account the | | | | under last-minute discussions, but could go above the |
| soaring wholesale electricity costs and the prospective | | | | 750p share mark, valuing it at between £11bn |
| role of its sites and the allotted plans that were in | | | | and £12bn. That would secure the Government |
| development in conjunction to Britain's nuclear power | | | | as much as £4bn. However, the net cash has |
| supply. | | | | already been marked for the decommission costs that |
| Shares in British Energy, which is capable of producing | | | | are connected with dismantling nuclear power stations, |
| around one-sixth of the UK's energy needs, rose to | | | | nearing the end of their lives. |
| almost 6% following the report as the renewed | | | | |