British Energy, the nuclear generator, has rejected the bid approach from EDF and interest from other European groups, saying they do “not represent value for shareholders”.

In a statement, it said that although it had been in talks with several companies about a possible takeover, “none of the proposals put forward so far is above the share price at the close of business on Friday 6 June”, which was 735p.

The shares fell 14p to 721p on Monday, valuing the company at about £11.7bn.

EDF is the only company to have made a recent offer, although its bid, priced between 680p and 700p, is subject to conditions. ... Read full article