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April 10, 2001 | Associated Press
German utility E.On said it agreed to buy British rival Powergen for $7.4 billion in a bid to become the world's second-largest power company and gain a foothold in the U.S. electricity market. E.On will also assume about $6.4 billion in debt from Powergen, Britain's third-largest power generator. If the plan clears regulatory hurdles, E.On will become a transatlantic giant, with 30 million customers and electricity sales of 323 billion kilowatt hours, moving ahead of American Power Co.
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BUSINESS
April 10, 2001 | Associated Press
German utility E.On said it agreed to buy British rival Powergen for $7.4 billion in a bid to become the world's second-largest power company and gain a foothold in the U.S. electricity market. E.On will also assume about $6.4 billion in debt from Powergen, Britain's third-largest power generator. If the plan clears regulatory hurdles, E.On will become a transatlantic giant, with 30 million customers and electricity sales of 323 billion kilowatt hours, moving ahead of American Power Co.
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BUSINESS
February 28, 2000 | Bloomberg News
PowerGen, the third-biggest power generator in Britain, today will announce plans to buy LG&E Energy, Kentucky's biggest utility, for about $3.2 billion in cash and will assume $1.5 billion in debt to establish a foothold in the U.S., people familiar with the buyout said. The offer is 60% higher than LG&E's closing price on Friday at $15.75 on the NYSE, one of the largest premiums ever paid for a utility company. PowerGen has made no secret of its desire to buy a U.S.
BUSINESS
February 28, 2000 | Bloomberg News
PowerGen, the third-biggest power generator in Britain, today will announce plans to buy LG&E Energy, Kentucky's biggest utility, for about $3.2 billion in cash and will assume $1.5 billion in debt to establish a foothold in the U.S., people familiar with the buyout said. The offer is 60% higher than LG&E's closing price on Friday at $15.75 on the NYSE, one of the largest premiums ever paid for a utility company. PowerGen has made no secret of its desire to buy a U.S.
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