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