France's Edf announces British Energy buyout plan

France's Edf announces British Energy buyout plan

ap.google.com

PARIS (AP) — French power giant EdF said Wednesday it has agreed to acquire British Energy Group PLC in a cash offer valued at 12.5 billion pounds ($23.18 billion), creating a cross-Channel powerhouse in nuclear energy.

EdF's bid of 774 pence for every ordinary share of the British nuclear power plant operator amounts to an increase of nine pence per share from the bid that French company made in July — but was rejected by British Energy.

The deal for Britain's biggest electricity producer would give the combined company extra heft in nuclear power: EdF is the world's largest nuclear plant operator, running all 58 of France's nuclear reactors.

French state-controlled EdF said in a statement that the companies' administrative boards had reached a deal on the offer to be made by Lake Acquisitions Limited — a fully owned subsidiary of EdF.

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[edit on 26/9/2008 by Mirthful Me]

Now to some this might sound like absolutely nothing. Just another couple of countries dealing in energy... And by the look that no-one else has even posted about this, my thoughts on it could be wrong but I just can't help but feel this is moving toward something else.

*SNIP*

ap.google.com
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[edit on 26/9/2008 by Mirthful Me]

what a good idea french power company ... build your power stations over here in england and then claim massive amounts back from our goverement for green energy ........


why dont we just give them our power stations and save a bit of time >_<


[edit on 24/9/08 by noobfun]

Pardon my American nose being stuck into your business, but aren't you guys allowing too much consolidation of power (pun, he he)?

So what is this company, a French monopoly? To me the whole EU thing smack of a large scale commercial operation. I don't know why, but I figured the older cultures and nations of the world would have been more, resistant, to such undertakings.

America at least has the excuse of being a younger country overrun by corporate fascists. But you guys should know better.

[edit on 24-9-2008 by Maxmars]

Total madness! Where are we gonna go if one of them go's up? Especially run by private foreign firms. As much as i would rather have Labour in power in this country, i sometimes think they really are quite thick in some areas and this is definately one of them!
They can't even force the developers of new builds to put in solar pannels, let alone push through legislation to make housing associations do the same. I'd rather have an argor and candles and live like a hippy than let this happen. We can't even get rid of the uranium we've got and are we still taking it in from the states? To be honest i'm getting to the point where i'm past caring. Total idiocracy! bordering on weird this country.
The politician's think they know it all, just like Prescott and his stupid house building nonsense that no ordinary person could ever afford, but he insisted we needed them. Now we are stuck with gettos on the horizon.
I am right.. you will see.

[edit on 24-9-2008 by happinness]

reply to post by Maxmars


Maxmar, you are so right. Sometimes it takes an outsider looking in to say what is wrong. You are spot on mate!

Originally posted by Maxmars
Pardon my American nose being stuck into your business, but aren't you guys allowing too much consolidation of power (pun, he he)?

So what is this company, a French monopoly? To me the whole EU thing smack of a large scale commercial operation. I don't know why, but I figured the older cultures and nations of the world would have been more, resistant, to such undertakings.

America at least has the excuse of being a younger country overrun by corporate fascists. But you guys should know better.

[edit on 24-9-2008 by Maxmars]

I completely welcome your "American nose being stuck into" 'our' business. IMHO it will ultimately affect everybody when things like this happen. You're are, as happiness says, spot on.

Guess what? Now they are saying that these new nuclear power stations would only provide 4% energy anyway. So what is the point of it all?
It sounds all very cozy the fact that the French nuclear power is in the hands of the state and in fairness to them they may be the best people for the job, being experts in the field etc. My worry is if anything did go wrong, where could we go? France?
I personally think it is totally unecessary and as i said before i would be happy with a little wood burner rather than suffercate from the polution, smog and all the other nasties around. To top it all the Gov'nt now have agreed another runway, so what is going on? The French EDF advert on the tele has the most depressing tune i have ever heard and want us to go green! It's enough to make you want to top yourself. I for one am very confused...

reply to post by A55A551N


France is one of the world's top experts on nuclear power. They sell it to other countries (including the UK). This would mean cheaper power for the UK, and the opportunity to close down some of the coal-fired power stations, which are grossly polluting.

This is nothing to be worried about. This is one area the French excel at, and it makes perfect sense for this to happen, for all parties involved.

From my understanding the experts have'nt worked out the 'China Syndrome' yet. WE are only ever 70 miles from the sea over here in the UK. Surely dimantling the old ones is just as dangerous, when they have'nt worked out what to do with the uranium. Back in the old days they threw it in the sea. As far as i know it is still there creating all the weird sealife that keep turning up.
I have'nt got anything against the French, but they have a big country to play around with, we have'nt.
I 'm not changing the subject, but even the swiss have nuclear bunkers. They were'nt silly when they agreed to let the mad scientists build their LHC! We are not equiped for all this nonsence... not by a long chalk. Probrobly 1/3 of the UK population are immigrants, that can barely speak English. If anything serious happened we are #ed basically!