Enel, Acciona Ask EC To Bless Endesa Deal

Law360, New York (June 1, 2007, 12:00 AM EDT) -- Italian power company Enel SpA and Spanish construction company Acciona SA are reportedly seeking antitrust clearance from the European Commission for their buyout of Spanish energy firm Endesa.

The agency has received details on the proposed deal and will now have until July 5 to determine whether the takeover bid requires further investigation for anti-competitive concerns, Dow Jones reported Friday.

Enel and Acciona launched their takeover bid on April 11, offering €57.6 billion for Endesa. Together, the two companies already control 46% of Endesa’s stock....
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