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The board of International Power has recommended shareholders accept a new takeover bid from GDF Suez, which already owns 70 per cent of the power generation company. GDF Suez offered £4.18 per share for the remainder of the company. Investors are also in line for a final dividend of 5.5 pence per share.
The revised bid follows an initial offer of 390 pence per share at the start of April, a bid the board rejected as it “undervalued the firm.”
Analyst Investec said the offer was “close to our expectations, and we see the offer progressing smoothly to its conclusions”.
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