E.On Takes Legal Action Against Enel, Acciona

Law360 (March 26, 2007, 12:00 AM EDT) -- German power giant E.On AG has launched legal actions against Italian energy company Enel SpA and Spanish conglomerate Acciona SA for allegedly interfering with its bid for Endesa, the company said Monday.

The Dusseldorf-based company said it had filed complaints with the Comisión Nacional del Maercado de Valores (CNMV), a Spanish regulatory commission, after Enel and Acciona teamed up to launch a counter-bid for Endesa.

Just hours before, Enel and Acciona announced that they would bid at least €23.4 billion for the 54% of Endesa they...
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