Business
Rejection of Possible Offer
Rejection of Possible Offer.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 7273E Severn Trent PLC 15 May 2013 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n14 May 2013\nSevern Trent Plc (\"Severn Trent\")\nRejection of proposal\nFurther to our announcement of 14 May regarding an approach by a consortium comprising Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme Limited (together, the \"Consortium\"), representatives of Severn Trent met representatives of the Consortium today for the first time.\nAt that meeting, a conditional proposal was tabled by the Consortium (the \"Proposal\") at only a modest premium to the share price before the announcement of 14 May. The Board of Severn Trent has reviewed the Proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent.\nAccordingly the Board has informed the Consortium that it has rejected the Proposal.\nEnquiries:\n \nTulchan\nAndrew Grant +44 (0) 20 7353 4200 \nDavid Shriver\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ORESFIEELFDSEFI\n ","length":2417,"tagName":"div"}]