Severn Trent Spent Millions Fending Off LongRiver Partners
U.K.-based water company Severn Trent Plc incurred legal and other costs of approximately £19 million (US$29 million) in responding to repeated acquisition offers from LongRiver Partners, an investor group led by Borealis Infrastructure Management, the investment arm of Ontario Municipal Employees Retirement System, and including Kuwait Investment Office and Universities Superannuation Scheme. The group's third proposal before the June 2013 deadline was estimated to value US$8.2 billion.
17 July 2013•4 mins read
