WPD bid cleared

Western Power Distribution of the US finally won its battle for beleaguered Welsh water and electricity utility Hyder this week. The City’s Takeover Panel cleared its £565m bid for the company and dismissed an appeal by rival bidder Nomura International, which claimed WPD’s sealed bid had not met the required deadline last week. The verdict […]

Western Power Distribution of the US finally won its battle for beleaguered Welsh water and electricity utility Hyder this week. The City’s Takeover Panel cleared its £565m bid for the company and dismissed an appeal by rival bidder Nomura International, which claimed WPD’s sealed bid had not met the required deadline last week. The verdict would appear to bring the five-month battle for Hyder to an end, although Nomura could still ask for a judicial review of the decision.