Caixin
M&A

EDP Shares Soar After $10.9 Billion Buyout Bid by China Three Gorges

Three Gorges operates the world’ largest hydro-electric power plant, the Three Gorges Dam spanning the Yangtze River. Photo: VCG
Three Gorges operates the world’ largest hydro-electric power plant, the Three Gorges Dam spanning the Yangtze River. Photo: VCG

* The deal would be one of the biggest foreign acquisitions by a Chinese company

* EDP is poised to reject the deal because it undervalues the company, Bloomberg reported

Shares of Portugal’s biggest energy company, Energias de Portugal SA, jumped more than 10% Monday following a 9 billion euro ($10.9 billion) buyout bid by China’s state-owned utility China Three Gorges Corp.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.