Centrica PLC (CNA.LN) Chief Executive Sam Laidlaw said his GBP1.3 billion hostile bid for Venture Production PLC (VPC.LN) will stabilize gas prices for millions of households, the Independent on Sunday reports.

Centrica's 845-pence-a-share offer July 9 was made ahead of a deadline ordered by the Takeover Panel, but has been rejected by Venture Production's board, with insiders saying the shares are worth at least 950 pence, according to the Independent on Sunday.

Company Web site: www.telegraph.co.uk

-By London Bureau, Dow Jones Newswires; +44 (0) 20 7842 9330
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