P505 Teletext 505 Oct28 21:51:11         —————————————————————————————  £651m BID FOR NORTHERN ELECTRIC Merger mania has returned to the electricity sector with the launch of a £651m bid for Northern Electric. CE Electric UK, an American-owned company, announced it was offering 630p a share for Northern. The offer price represents a 21% premium on the value of Northern Electric, based in Newcastle-upon-Tyne, at the end of share dealing last week. ——————————————————————————————————1/2—— CITY FOCUS US giants tighten grip 506 HAVE YOU SEEN FAMILY FINANCE? p540 Next CompNews Shares Family Finance
P505 Teletext 505 Oct28 21:51:01         —————————————————————————————  NORTHERN REJECTS AMERICAN BID Northern Electric has advised its shareholders to take no action after an American-owned company launched a hostile £651m takeover bid. Northern, one of only five regional electricity firms still independent, rejected the bid from CE Electric. Shares in the Newcastle-based company soared by 128p to 648p and boosted other stocks in the sector. ——————————————————————————————————2/2—— CITY FOCUS US giants tighten grip 506 HAVE YOU SEEN FAMILY FINANCE? p540 Next CompNews Shares Family Finance