Scots reach the channel
Article Abstract:
ScottishPower has offered 1.7 billion pounds sterling for Southern Water and seeks to deter Southern Electric, also aiming to acquire Southern Water, by arguing that it can increase this offer if needed. ScottishPower has also acquired ManWeb and points to this acquisition as an example of utilities being able to cut costs even if they are not close to each other. Southern Electric is likely to seek another acquisition rather than channeling cash to shareholders.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Disunited utilities
Article Abstract:
Desmond Pitcher may be leaving his post as executive chairman of United Utilities, which includes Norweb and North West Water. The company has stated that it is aware of issues relating to succession and is resolving them through immediate action. Institutional investors are reportedly concerned about the role of Pitcher in the removal of Brian Staples, United Utilities' chief executive. The company's stocks have underperformed compared to other utility stocks.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Protest at Suez 'merger,'(rumors of merger between Suez and Lyonnaise des Eaux)
Article Abstract:
There have been rumors of a merger between Suez and Lyonnaise des Eaux. The Belgian government is concerned that such a move would mean that the French stake in Tractebel, a Belgian energy utility, would be increased. Societe Generale de Belgique holds a 65% stake in Tractebel and is in turn owned by Suez. The rumors have not been confirmed but this does not ease the government's concerns. There is also opposition to the closure of a Renault plant in Belgium.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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