Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Severn Trent Spent $29 Million in Canadian-Led Takeover Battle

Severn Trent Plc, the U.K. water company that spurned a 5.3 billion-pound ($8 billion) offer from a Canadian-led infrastructure group, said today that it incurred 19 million pounds in costs over the takeover approach.

LongRiver Partners, the group comprising Borealis Infrastructure Management Inc., a Kuwaiti sovereign wealth fund and Britain’s Universities Superannuation Scheme, walked away from its offer last month after two attempts starting May 14 to sweeten the bid were rejected as too low by Severn Trent.

The Coventry-based water company, Britain’s second-biggest by market value, supplies drinking water to 7.7 million people and sewer services to 8.7 million in the Midlands and Wales. It said in a trading update that advisory, legal and related costs “addressing this approach” totalled 19 million pounds.

Since the close of trading on May 13 before the takeover approach to today, Severn Trent shares have fallen 4.2 percent to 1,749 pence compared with a 1.5 percent decline by the FTSE 100 Index.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.