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