Ecotricity has made a cash offer for Good Energy, valuing the company at £45.3 million excluding the shares it already owns, or £59.6 million when included. The cash offer for the entire issued and to be issued ordinary share capital of Good Energy not already owned by Ecotricity comes in at a price of 340p per Good Energy share, and follows three indicative offers that were rejected by Good Energy’s board. The offer also represents a premium of around 10.6% over the closing price of 307.5p per Good Energy share on 9 July 2021, and a premium of around 26.6% over the volume weighted average closing price of 268.5p per Good Energy share over the three-month period to 9 July. The move would consolidate the two oldest green energy suppliers in Britain, Ecotricity said, with this enabling both companies to better compete in the highly competitive supply market.
Current 22nd July 2021 read more »