Battle over Hyder

The battle to take over beleaguered Welsh power and water utility Hyder took a further twist this week, as Nomura of Japan trumped a revised bid by Western Power Distribution of the US with its third bid of 346p a share – almost double Hyder’s share price when Nomura made its original offer in March. […]

The battle to take over beleaguered Welsh power and water utility Hyder took a further twist this week, as Nomura of Japan trumped a revised bid by Western Power Distribution of the US with its third bid of 346p a share – almost double Hyder’s share price when Nomura made its original offer in March. The Hyder board had recommended the revised WPD bid just hours after it had backed a second bid by Nomura. The board had originally recommended Nomura’s first bid.