GDF And Suez Plan Merger To Block Enel

Law360, New York (February 27, 2006, 12:00 AM EST) -- In a hastily arranged move to fend off a hostile bid from Italy’s power company Enel, Gaz de France SA said it will take over the energy and water supplier Suez SA in a €39 billion merger.

The plan would create the world’s second-largest power and gas company with a market capitalization of €72 billion and is seen by many as the latest in a series of moves by European governments to protect what they increasingly perceive to be national industries.

The deal was announced amid...
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