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E.ON makes move to take over Endesa

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E.ON makes move to take over Endesa

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The German utility, E.ON, has launched a takeover bid for Spanish power firm, Endesa. The total deal would come to around 55 billion euros, according to E.ON which says the offer is conditional on it getting at least 50 per cent of Endesa’s capital stock.

Analysts say it is likely to be a knockout blow to the hostile 22 billion euro offer for Endesa by its Spanish rival Gas Natural. Endesa shareholders are due to discuss the Gas Natural offer at their annual general meeting on Friday.