Texas Utilities has finally won its battle to take control of the UK’s Energy Group. A bid of £4.45 billion ($7.2 billion) was accepted by 49.78 per cent of the UK company’s shareholders and has been declared unconditional. With this support, Texas Utilities controls a total holding of 71.75 per cent.
Meanwhile the UK utility PowerGen has entered into preliminary merger talks with US company Houston Industries. The UK company, which is seeking an entry into the US power market, held unsuccessful merger talks with Cinergy Inc last year.
