Ecotricity's Good Energy Bid Accepted by Shareholders With 2.1% Stake
September 16 2021 - 4:31AM
Dow Jones News
By Jaime Llinares Taboada
Ecotricity Group Ltd. said Thursday its offer for Good Energy
Group PLC has been accepted by shareholders representing a 2.1%
stake in the capital of the renewable-energy retailer.
In a separate statement issued Thursday morning, Good Energy
once again recommended that shareholders reject the offer, arguing
that it doesn't take into account the company's potential for
growth, and that Good Energy is worth more than Ecotricity's 340
pence-a-share bid.
"This hostile offer, if successful, would risk severely damaging
the company's potential for further growth, and deny our investors
the opportunity to be a part of it," Good Energy Chairman Will
Whitehorn said.
Ecotricity has a 25.1% shareholding in Good Energy.
Shares in Good Energy at 0751 GMT were up 1.8% at 335 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 16, 2021 04:16 ET (08:16 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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