P506 Teletext 506 Oct28 21:50:11         ———————— US GIANTS TIGHTEN GRIP —————— A takeover of Northern Electric by American-owned CE Electric UK would increase the grip the US power giants are exerting on the sector. Having bided its time, CE Electric has offered £651m, compared with the £1.2bn bid Trafalgar House offered at the end of 1994. The two bids are not comparable, however, because of special shareholder payouts by Northern since the original Trafalgar offer. ——————————————————————————————————1/6—— Americans launch bid for Northern 505 Download and Analyse Share Prices on Your PC See Pages 532 & 533 Next CompNews Shares Family Finance
P506 Teletext 506 Oct28 21:41:00         ———————— US GIANTS TIGHTEN GRIP —————— American-owned CE Electric has launched a takeover bid for Northern Electric. Ever since flotation in December 1990, the 12 regional electricity companies have enjoyed steadily rising profits and higher dividend payouts. It was this almost guaranteed revenuD stream which prompted Trafalgar House to launch its doomed takeover bid for Northern Electric. It was the first company to make an offer for a regional electricity firm. ——————————————————————————————————2/6—— Americans launch bid for Northern 505 FAMILY FINANCE LATEST NEWS 540 Next CompNews Shares Family Finance
P506 Teletext 506 Oct28 21:41:00         ———————— US GIANTS TIGHTEN GRIP —————— The Americans are tightening their grip on regional electricity companies. Spurred on by what are generally regarded as the lenient price controls announced by Professor Stephen Littlechild, the RECs became juicy targets for many predatory companies. South Western Electricity fell to American group Southern Electric in a £1.1bn bid, while Seeboard was snapped up by another US group, Central & South West, for £1.6bn. ——————————————————————————————————3/6—— Americans launch bid for Northern 505 FAMILY FINANCE LATEST NEWS 540 Next CompNews Shares Family Finance
P506 Teletext 506 Oct28 21:41:00         ———————— US GIANTS TIGHTEN GRIP —————— American-owned CE Electric has launched a hostile £651m takeover bid for Northern Electric, which has advised shareholders to take no action. Midlands Electricity was the third of the original 12 privatised RECs to fall into American ownership with a £1.7bn offer from Avon Energy Partners. Northern is now just one of five RECs which have retained their indepdndence — the others being East Midlands, London, Southern and Yorkshire. ——————————————————————————————————4/6—— Americans launch bid for Northern 505 FAMILY FINANCE LATEST NEWS 540 Next CompNews Shares Family Finance
P506 Teletext 506 Oct28 21:50:00         ———————— US GIANTS TIGHTEN GRIP —————— Merger mania has boosted the power sector after CE Electric launched a takeover bid for Northern Electric. City analysts reckon several more bids are likely in the next few months. David Campbell of broker Greig Middleton believes bids for East Midlands and Yorkshire are on the cards sooner rather than later because political worries which could affect the sector are likely to increase as the General Election draws closer. ——————————————————————————————————5/6—— Americans launch bid for Northern 505 FAMILY FINANCE LATEST NEWS 540 Next CompNews Shares Family Finance
P506 Teletext 506 Oct28 21:50:00         ———————— US GIANTS TIGHTEN GRIP —————— A takeover of Northern Electric by American-owned CE Electric UK would increase the grip the US power giants are exerting on the sector. Several regional electricity companies have been snapped up by predators based in the UK. They include Manweb which went for £1.1bn to ScottishPower, Eastern to Hanson for £2.5bn, Norweb to North West Water for £1.8bn and Swalec to Welsh Water for £872m. ——————————————————————————————————6/6—— Americans launch bid for Northern 505 FAMILY FINANCE LATEST NEWS 540 Next CompNews Shares Family Finance