Quick Take: EDP Rejects Takeover Offer From China Three Gorges
Energias de Portugal SA has rejected 9 billion euro ($10.7 billion) buyout bid from Chinese state-owned utility China Three Gorges Corp., saying the price is too low.
In a Tuesday regulatory filing, EDP — Portugal’s largest energy company — said its board believes that the offered price does not adequately reflect the value of the company. “The implied offer premium is low considering what is customary for European utilities where the offerer has acquired control,” the statement said.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas