Consortium Lobs Sweetened $8.2B Bid At Severn Trent

Law360, New York (June 7, 2013, 3:02 PM EDT) -- A consortium of investment firms on Friday ratcheted up their takeover bid for Severn Trent PLC to £5.3 billion ($8.2 billion), a move that comes days after the U.K. water company rejected their previous sweetened proposal worth £5.2 billion.

Under the terms of the deal, Severn Trent shareholders would receive a £22 payout for each of their shares, a 3.5 percent upgrade on the earlier offer of £21.25 lobbed by the infrastructure arm of the Ontario Municipal Employees Retirement System, the Kuwait Investment Authority and Britain's...
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