Severn Trent Receives Approach From Borealis, Kuwait Investment
Stock Chart for Severn Trent PLC (SVT)
Severn Trent Plc (SVT), the U.K.’s second-largest publicly traded water company, received an approach from a group comprising Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme.
The approach “may or may not lead to an offer being made for Severn Trent,” the Coventry, England-based company said today in a regulatory statement. “No proposal has been made and there can be no certainty that an offer will be made.”
The Financial News reported earlier that the Kuwait Investment Authority had formed a group to make a 5.3 billion-pound ($8.1 billion) bid for Severn Trent, citing people with knowledge of the matter.
Severn Trent said the interested parties are required to announce a firm intention to make an offer, or that they don’t intend to make one, by 5 p.m. on June 11, in accordance with U.K. takeover rules.
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