Spain Supreme Court lifts injunction on Gas Natural's bid for Endesa UPDATE |
|
|
|
Published
:
Wed, 10 Jan 2007 15:21
|
(Updates with further details on implications for E.ON)MADRID (AFX) - Spain's Supreme Court said it will lift the injunction imposed on Gas Natural SDG SA's bid for Endesa SA.The decision was carried by 16 votes to 15, the court said.As a result of the injunction on Gas Natural's bid, a competing offer from German utility E.ON AG was also blocked.Endesa had asked for the injunction on Gas Natural's bid to be lifted.Gas Natural's bid has also been blocked by a Madrid court, which is expected to examine tomorrow an appeal filed by the Catalan gas group and Iberdrola SA.Gas Natural is offering a combination of cash and stock, while E.ON has bid 34.5 eur a share in cash.The German utility's offer is conditional on receiving acceptance from shareholders accounting for 50.01 pct of Endesa, as well as changes to the statutes on voting rights.However, E.ON has reserved the right to withdraw both these conditions if they are not met.afxmadrid@afxnews.comjr/jdy/jdy/jdy/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Spain Supreme Court lifts injunction on Gas Natural's bid for Endesa 