Bidder for UK's Severn Trent walks away
LONDON, June 11 (Reuters) - A Canadian-led consortium ended its interest in British water company Severn Trent on Tuesday, saying it had no intention to make an offer after three previous approaches were rejected.
LongRiver consortium, comprising Borealis Infrastructure , a Kuwaiti sovereign wealth fund and Britain's Universities Superannuation Scheme, said Severn Trent had refused to engage in meaningful talks.
Some major shareholders had urged the FTSE 100 water firm to open negotiations with the consortium in an attempt to elicit a higher offer than the 22 British pounds per share it rejected late on Friday. [ID: nL5N0EM0FA]
© Thomson Reuters 2016 All rights reserved.