| After the nuclear power company British Energy | | | | imminently. Centrica, the British power company, is |
| announced that it was thinking about takeover | | | | also involved in some negotiations with EDF, they are |
| approaches earlier this year, and then subsequently | | | | seeking to secure a deal that would see it acquire |
| held talks and meetings with EDF of France, E.ON and | | | | 25% of British Energy. The decisive takeover price |
| RWE of Germany, and Iberdrola of Spain. It is the | | | | for British Energy is still under last-minute discussions, |
| French energy power house that has emerged as | | | | but could go above the 750p share mark, valuing it at |
| the only formal bidder for the takeover and is now | | | | between £11bn and £12bn. That would |
| only days away from clinching the £12 billion deal. | | | | secure the Government as much as £4bn. |
| EDF has been one of the leading contenders to buy | | | | However, the net cash has already been marked for |
| British Energy since the British Government | | | | the decommission costs that are connected with |
| effectively put the power company up for sale by | | | | dismantling nuclear power stations, nearing the end of |
| announcing it wanted to sell its 35% stake in the | | | | their lives. Despite Centrica refusing to comment on |
| nuclear operator. According to the BBC, EDF is now | | | | its involvement in the deal, it is understood that its |
| prepared to pay as much as 775p per share, after | | | | executives whom are also working very busily with |
| British Energy released that none of the potential | | | | EDF. The British company's involvement in the deal |
| deals took into account the soaring wholesale | | | | would appease critics of the sale of the UK's only |
| electricity costs and the prospective role of its sites | | | | major nuclear operator to a French company. Since |
| and the allotted plans that were in development in | | | | Gordon Brown committed the UK to developing a |
| conjunction to Britain's nuclear power supply. Shares | | | | brand new generation of nuclear power plants, |
| in British Energy, which is capable of producing around | | | | Malcolm Wicks, the Energy minister, has commented |
| one-sixth of the UK's energy needs, rose to almost | | | | that while the Government is not opposed to British |
| 6% following the report as the renewed speculation | | | | Energy being taken over by a foreign buyer, they |
| and prospect of an imminent deal excited the | | | | are alert to the sensitivities of such an issue. The |
| investors considerably. British Energy's eight nuclear | | | | Government will also have to consider how a deal |
| power stations are Dungeness B in Kent, Hartlepool, | | | | with the French power house EDF would affect |
| Heysham 1 and 2 in Lancashire, Hinkley Point B in | | | | other potential operators in view of a monopolising of |
| Somerset, Hunterston B in Ayrshire, Sizewell B in | | | | nuclear power by the French company, given that |
| Suffolk and Torness in East Lothian. The group, which | | | | British Energy's existing sites are likely to be the |
| has around 6,000 staff, also owns a coal-fired power | | | | favoured locations for future constructions. |
| station at Eggborough, East Yorkshire. EDF | | | | Ryan Whatley is the solar power expert at |
| executives now hope to be able to announce a deal | | | | EcoSwitch The environmental social network. |