There's still time to register for tomorrow's webinar which is sponsored by PrimaryBid, featuring Zephyr Energy (ZPHR), SpectrumX, Scirocco Energy (SCIR) and Power Metal Resources (POW). Sign up here.

Less Ads, More Data, More Tools Register for FREE

CORRECT (Jul 14): Good Energy says Ecotricity bid "opportunistic"

Thu, 15th Jul 2021 10:18

(Correcting that Good Energy was responding to Ecotricity's third takeover offer, not fourth.)

Good Energy Group PLC - Wiltshire-based renewable electricity supplier - Updates shareholders on its rejection of an offer of a cash takeover by Ecotricity Group Ltd.

The company was offered 340 pence per share of its entire ordinary share capital, marking the third offer by Ecotricity.

The first bid saw Good Energy offered 310.0p per share, before this was increased to 330.0p per share in the second offer. The third offer was raised to 340p a share. There has been no fourth bid at this stage.

Good energy says the offer "fundamentally undervalues" the group's share price and fails to consider Good Energy's long term strategy to deliver value to shareholders.

Chair Will Whitehorn said "This is a highly opportunistic approach by a direct competitor to the company which the board believes is not in the best interests of our shareholders, employees or customers. We have a clear strategy, a strong leadership team and a proven track record in delivering on our objectives."

Current stock price: 331.00 pence, down 0.5% on Thursday morning

Year-to-date change: up 86%

By Aidan Lane; newsroom@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News

IN BRIEF: Good Energy rejects raised GBP70 million Ecotricity bid

IN BRIEF: Good Energy rejects raised GBP70 million Ecotricity bid

17 Sep 21 13:38

IN BRIEF: Ecotricity raises Good Energy bid to GBP69.9 million

IN BRIEF: Ecotricity raises Good Energy bid to GBP69.9 million

16 Sep 21 17:46

Good Energy rebuffs 'hostile and highly opportunistic offer' from Ecotricity

(Sharecast News) - Energy firm Good Energy has rebuffed yet another "hostile and highly opportunistic offer" from Ecotricity that it claims significantly undervalues the business.

16 Sep 21 10:45

TRADING UPDATES: Strong annual results from Springfield, Fiske

TRADING UPDATES: Strong annual results from Springfield, Fiske

14 Sep 21 17:46

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.