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U.K.'s largest nuclear power producer up for sale?

Posted on May 16, 2008

Bloomberg reports: British Energy Group Plc. [LSE:BGY], the U.K.'s biggest nuclear power producer, received approaches from companies considering takeover bids, some of which value it at more than $21.3 billion. Two of the three proposals received by British Energy were for more than 680 pence a share, yesterday's closing price, according to an anonymous source. Power companies want to buy British Energy because U.K. Prime Minister Gordon Brown backs building reactors to meet demand and to replace aging units. The stock closed up 5.2% at 715.5 pence ($14.00) on Friday....

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