UK Water Co. Severn Trent Rejects $7.9B Takeover Offer

Law360, New York (June 3, 2013, 3:39 PM EDT) -- U.K. water company Severn Trent PLC rejected a sweetened £5.2 billion ($7.9 billion) takeover bid by a private consortium led by a Canadian infrastructure fund and a Kuwaiti sovereign wealth fund Monday, while Severn Trent's suitors called the rejection surprising and disappointing. 

Severn Trent said the 2,125 pence-per-share bid by the infrastructure arm of the Ontario Municipal Employees Retirement System and the Kuwait Investment Authority undervalues the long-term growth potential of the water company. The U.K. firm touted its private investment record and 72 percent shareholder...
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