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BRIEFLY

Energy

August 26, 1995| Times Staff and Wire Reports

South Western Accepts Sweetened Bid: Britain's South Western Electricity agreed to be acquired by Southern Co. after the U.S. utility boosted its bid by 7% to $1.65 billion. South Western's decision ends a monthlong battle over the price of the acquisition, which is the first of a British power company by a foreign utility. The deal allows Atlanta-based Southern to expand from a slow-growing U.S. market into Britain's lucrative power-distribution industry. Southern might have bid even more for South Western, but the expense of winning British regulatory approval kept a cap on the company's offer, analysts said.

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