E.D.F. Near Deal to Buy British Energy, Reports Say

British Energy, the nuclear operator, has agreed to be taken over by French utility Electricite de France, or E.D.F., for about 12.4 billion pounds ($24.6 billion), according to press reports. Reuters said that after months of talks, E.D.F. had agreed with British Energy to an offer of about 775 pence per share, and hoped to finalize the deal on Tuesday or Wednesday of next week. On Thursday, British Energy confirmed that it was in “advanced discussions” with an unnamed bidder, but the identity of the potential buyer is widely known as E.D.F. If the two energy giants reach a deal, E.D.F. would in turn around sell a 20 percent to 25 percent stake in its British rival to Centrica, the U.K.’s largest retail energy... [read full story]