Enel Bid for Eletropaulo Tops Iberdrola's as Deadline Passes
31 Mayo 2018 - 12:57AM
Noticias Dow Jones
By Alberto Delclaux
The bidding war between Enel SpA (ENEL.MI) and Iberdrola SA
(IBE.MC) for Brazil's Eletropaulo Metropolitana Eletricidade de Sao
Paulo S/A (ELPL3.BR) escalated overnight Wednesday, with the
Rome-based company topping an offer by its Spanish rival just
before the deadline passed for new bids.
Enel increased its offer to 45.22 Brazilian reais ($12.12) per
share, following a rise from Iberdrola to BRL39.53, according to
regulatory filings. Enel's previous offer price was BRL32.20,
slightly over Iberdrola's at BRL32.10.
Shareholders will now choose the successful bid at a June 4
tender.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
May 31, 2018 01:42 ET (05:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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