Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices

OMERS consortium bid for Severn Trent has legs Add to ...

Subscribers Only

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Could someone in Coventry please pick up the phone? That was the message in Friday’s announcement from the consortium stalking Severn Trent. LongRiver Partners offered to buy the U.K. water utility based in the Midlands city for £22 a share, or £5.3-billion ($8.4-billion). The offer is conditional, but it is the first one the bidder has made public; two quieter approaches since mid-May were rebuffed by the target’s board. At a one-third premium to Severn Trent’s average six-month share price to May 13, this one merits fuller consideration.

Report Typo/Error

Next story

loading

Trending

loading

Most popular videos »

More from The Globe and Mail

Most popular