A place to discuss Centrica's M&A activity
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Centrica plc is an integrated energy company. The Company operates in four segments: Downstream UK, Upstream UK, Storage UK and North America. The Downstream UK includes of British Gas operations. The Upstream UK includes Centrica Energy operations. The Storage UK includes Centrica Storage operations. The North America segment includes the operations of Direct Energy. On November 11, 2011, the Company announced that its subsidiary, Direct Energy, had acquired home protection plan business Home Warranty of America. On 1 June 2011, the Company completed the sale of Oxxio B.V. In January 2012, it acquired natural gas retailer Vectren Source from Vectren Corporation. In April 2012, Centrica plc purchased Teradata Data Warehouse Appliance platform, Teradata Logical Data Model, Teradata Analytical Applications. more »
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http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/5806270/Centrica-turns-hostile-with-1bn-takeover-bid-for-Venture-Production.html
Worth cross-referring to the same topic but from a Venture perspective here: http://www.stockopedia.co.uk/forum/view/28046/venture-endgame
See also in the general sector M&A thread from here: http://www.stockopedia.co.uk/forum/view/28067/ma?comment=72#72
Personally I'd think that the outcome of this particular bid battle could be pivotal for sector sentiment...... though if Cntrica have read it right (since they claim their offer will be final) it could yet be a coup for them. IMO I think other deals won't take long to come out of the woodwork.
ee
Quite amusing you say that. Soco recieved a bid October last year, 9 months on and we have'nt even got an offer. Venture which recieved a bid and now an offer much later then Soco are much closer to the finish line.
These things can drag(on) :-).