Gas Natural Extends Endesa Deadline
April 18, 2006
Spain’s Gas Natural SA said Tuesday it is extending its offer for shares of Endesa SA, the nation’s main utility, to May 19.
Gas Natural is offering less than German utility E.ON’s $35 billion for the big Spanish power generation company.
Madrid’s Socialist government is believed to favor Gas Natural in the bidding war for Endesa, although Endesa’s board is believed to be cool to Gas Natural’s less lucrative offer.