E.ON Bid Sets Up Spain/EU Stand-off

March 2006 | Company News Alert

The Gas Natural/Endesa takeover saga is becoming increasingly complex, with a Spanish commercial court suspending the process while it considers Endesa's appeal against the bid and European Union Internal Market Commissioner Charlie McCreevy indicates that he could begin an infringement procedure against the Spanish government. Waiting in the wings is German power company E.ON with an all-cash EUR29bn (US$35bn) offer that it launched only a month ago, a full five months after Gas Natural began the takeover process. As with the proposed merger of French firms Gaz de France (GdF) and Suez, the Gas Natural bid is highly controversial and

If you would like to subscribe to Western Europe Oil and Gas Insight and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Western Europe Oil and Gas Insight please click on the trial link below.