Portugal’s EDP rejects China Three Gorges takeover bid

EDP has rejected a €9.07 billion takeover offer from China Three Gorges as too low.
By Staff reporter 16 May 2018 0 30875

EDP has rejected a €9.07 billion ($10.9 billion) takeover offer from China Three Gorges as too low, the Portuguese utility said in a stock exchange filing on Tuesday.

“The executive board of directors considers that the price offered does not adequately reflect the value of EDP and that the implied offer premium is low considering what is customary for European utilities where the offeror has acquired control,” EDP said.

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