EDF launches 12.5 bln pound bid on British Energy

French utility EDF launched a 12.5 bln pound ($23.14 bln) agreed takeover bid on power producer British Energy, helping to secure Britain's nuclear future.
EDF, the world's biggest maker of nuclear energy, said on Wednesday it offered to pay 774 pence per British Energy share.
As an alternative, EDF is also proposing to pay 700 pence in cash plus one nuclear power note, linked to BE's future performance.
"We are delighted that the British Energy Board has unanimously accepted this offer," said EDF Chairman Pierre Gadonneix. "This paves the way for investment in the UK."
EDF and Centrica, which owns British Gas, are in talks about Centrica taking a 25 percent stake in the new British Energy following EDF's completion of the deal with British Energy.
EDF's final offer of 774 pence per share represents an increase of 9 pence per share from an original proposal, which was rejected by British Energy on Aug. 1, and values the company at 12.5 bln pounds.