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EdF To Buy British Energy For $23B: Report

Law360 (September 23, 2008, 12:00 AM EDT) -- Electricite de France SA has reportedly agreed to acquire British Energy PLC for $23 billion.

EdF upped its offer for the British nuclear plant operator to 774 pence per share, up nine pence from an offer that British Energy rejected in July, The Wall Street Journal reported.

The earlier deal between the two companies fell apart when two of British Energy's largest shareholders balked at the deal, the Journal reported. At least one of them, Invesco Asset Management Ltd., appears to have warmed to the new...
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