Wary Of €22B Takeover Bid, Endesa Takes Aim

Law360, New York (March 6, 2006, 12:00 AM EST) -- In a bid to block a €22 billion takeover deal, Endesa, Spain's largest electricity supplier, has launched an attack against Gas Natural SDG SA in a U.S. federal court, alleging the company made false and misleading disclosures in its move to acquire Endesa.

The Spanish power company filed the suit this week in Manhattan, saying the move was in response to false statements and omissions of fact contained in the utility’s prospectus, according to Dow Jones.

Endesa said its shareholders would be irreparably harmed if they...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.