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15/05/2013
Severn Trent Reject Preliminary Takeover Approach
Severn Trent, which supplies water and sewerage services to 7.7m people in Wales and the Midlands, has rejected and preliminary takeover offer.
The company said the proposal "completely fails to recognise the existing and potential value of Severn Trent".
No details of the preliminary offer have been revealed but it was previously reported that it valued the company around £5bn.
A consortium led by a Canadian infrastructure firm and a Kuwaiti investment fund made the approach.
(MH/CD)
The company said the proposal "completely fails to recognise the existing and potential value of Severn Trent".
No details of the preliminary offer have been revealed but it was previously reported that it valued the company around £5bn.
A consortium led by a Canadian infrastructure firm and a Kuwaiti investment fund made the approach.
(MH/CD)
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Severn Trent Fined £2m Over 'Water Leak Lies'
Severn Trent Water has today been fined £2 million at the Old Bailey, for lying about leakages in its water system. The second largest water company in Britain - and the first to be prosecuted for making false statements about its leaks - pleaded guilty to two offences related to leakage data supplied to Ofwat in 2001 and 2002.
Severn Trent Fined £2m Over 'Water Leak Lies'
Severn Trent Water has today been fined £2 million at the Old Bailey, for lying about leakages in its water system. The second largest water company in Britain - and the first to be prosecuted for making false statements about its leaks - pleaded guilty to two offences related to leakage data supplied to Ofwat in 2001 and 2002.
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