Good Energy says Ecotricity bid significantly undervalues company
Thu, 22nd Jul 2021 21:38
(Alliance News) - Good Energy Group PLC on Thursday said a takeover bid made by Ecotricity Group Ltd significantly undervalues the company and its future prospects .
The renewable electricity supplier reiterated its unanimous and unequivocal rejection of the offer.
Early on Thursday, green energy supplier Ecotricity made a 340 pence a share cash offer for Good Energy. The stock closed up 0.3% in London on Thursday at 324.96p a share, giving it a market capitalisation of GBP54.1 million.
The offer values Good Energy - excluding Ecotricity s shareholding - at GBP45.3 million and the entire issued capital of Good Energy at GBP59.5 million.
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