UU seen as vulnerable after £1.5 billion payout
- From: Vol 8, Issue 12 (December 2007)
- Category: General
- Region: Europe
- Country:
- Related Companies: Arcapita, Barclays Capital, Cambridge Water, Cheung Kong Group, JP Morgan, Severn Trent, South Staffordshire Group and United Utilities
A larger than planned special dividend could mean United Utilities is the next UK water plc to disappear from the stock exchange.
The sale of United Utilities’ power distribution business for £1.78 billion – and the corporate restructuring that will follow it – seem likely to leave the company vulnerable to takeover, as financial investors continue to chase UK water assets.
The 45% premium to RAV that the joint venture of JP Morgan and CBA-managed infrastructure funds was prepared to pay for United ...
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