French power giant International Power is at present strongly surrounded by takeover speculations that just refuse to go away. Whether or not these are true remains to be seen, but they do seem to be doing well for the company which has now become among the top FTSE 100 gainers, rising as much as 4.9%.
Rumors are ripe that the firm is all set for a M&A, and will soon be coming out with a 400 pence a share offer. Warren Buffet had been marked as the top potential suitors, but it seems has now been displaced by the local GDF Suez.
"(There) was talk that Suez was interested at 400p, not sure I believe (it) but the volume suggests that something is going on", shared a London-based trader.
GDF does boast a balance sheet to make the move feasible. Assuming an offer with a 40% premium, valuing each share at 385 pence, the total cost would be 11 Billion Pounds or 12 Billion Euros.
None of the companies named in the speculations have commented on the rumors, neither accepting nor rejecting them.
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