Severn Trent Declines LongRiver’s Third Takeover Offer

The board of directors of U.K.-based water company Severn Trent PLC has turned down a pre-conditional possible offer by LongRiver Partners, according to a statement issued by the company, noting that this third proposal fails to reflect the company’s long-term value and potential. LongRiver is a consortium comprised of Borealis Infrastructure Management, the infrastructure investment arm of Ontario Municipal Employees Retirement SystemKuwait Investment Office and the British Universities Superannuation Scheme. The latest acquisition bid, which is based on a 2,200 pounds per share cash proposal, is valued at US$8.2 billion, reports Reuters.

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