United Utilities subject of takeover talk; LongRiver Partners mentioned as possible bidder United Utilities, a listed UK-based water utility, was the subject of takeover speculation yesterday, 7 May, the Financial Times reported. The newspaper’s market report section did not cite a source for the speculation, but noted that water utilities in general were boosted after the UK’s shadow energy secretary downplayed the prospect that of a freeze on water prices.
Traders cited by the report mentioned speculation that LongRiver Partners, a consortium led by Borealis, might be interested in United Utilities.
Better clarity with regards to political and regulatory issues has sparked renewed hopes of takeovers in the water sector from sovereign wealth funds and infrastructure funds, the item said.
United Utilities’ share price closed 12.5p up at 816.5p in London yesterday, giving the company a market capitalisation of GBP 5.56bn (EUR 6.77bn).
http://www.ft.com/cms/s/0/3e7291e0-d608-11e3-a017-00144feabdc0.html?siteedition=uk on 07.05.2014
Source Financial Times