Fenosa is given the green light to take over rival Cantabrico

Article Abstract:

Union Electrica Fenosa SA consolidates its position as no. 3 electric utilities company in the Spanish sector with the acquisition of rival Hidroelectrica del Cantabrico SA for Euro 2.7 billion. TXU Europe PLC had no choice but to support the merger, although TXU's attempts to enter the Spanish market will be hampered by Cantabrico's acquisition.

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Shareholders reject Fenosa's offer to buy Cantabrico

Article Abstract:

Hidroelectrica del Cantabrico SA stockholders have rejected Union Electrica Fenosa SA's offer to acquire the firm. Fenosa offered to acquire Cantabrico for 2.7 billion euros.

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Fenosa withdraws its bid to take over Cantabrico

Article Abstract:

Union Electrica Fenosa SA announced it was terminating its offer to acquire Hidroelectrica del Cantabrico. The announcement follows the refusal of the Spanish government to approve the deal.

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