The US conglomerate General Electric has reportedly joined Goldman Sachs in a £4bn bid for Southern Water, which supplies about 1m households in south-east England.
Southern was put up for sale by its owner, the Royal Bank of Scotland's private equity division, earlier this year.
GE joins other big hitters in the Goldman consortium, including the Australian firm Babcock & Brown. The consortium is said to be up against rivals led by the investment bank Morgan Stanley, and funds led by JP Morgan and Merrill Lynch.
The asset-rich utility sector has become a prime target for takeover activity.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment