Shares in International Power climb on takeover speculations

Shares in International Power gained 12.6 pence to 328.6 pence on Friday on speculations that France’s state-controlled power generator GDF Suez is planning to launch a takeover bid for the British company.

Reports suggest that world's second leading utility GDF Suez is planning to make a £6.3 billion or 430 pence a share cash offer for the International Power. However, a formal offer is yet to be made.

GDF, which is 35 per cent owned by the French government, wants to spread out in new markets and GDF’s this aim can be fulfilled with the acquisition of International Power. 

International Power, which provides electricity to household energy suppliers, operates as many as forty-five power plants in Europe, Middle East, America and Asia.
Both, GDF Suez and International Power declined to comment on the issue.