French group EDF today agreed a £12.5 billion takeover of British Energy in a move set to kick-start the UK’s nuclear power strategy.
The state-owned utility giant will pay 774p a share, 9p higher than the price offered in July which was rejected as too low by major British Energy shareholders.
British Gas parent Centrica is also in talks to buy a 25 per cent stake in the new British Energy following the deal, it was confirmed today.
British Prime minister Gordon Brown welcomed news of the takeover as "good value for the taxpayer and a significant step towards the construction of a new generation of nuclear stations".
PA