LONDON: The boards of HEIT and Drax Bidco announced Tuesday they have agreed to terms for a recommended cash acquisition in which Drax Bidco, a wholly owned subsidiary of Drax Group PLC, will acquire all issued shares of HEIT. The deal, valued at approximately £199.9 million ($253 million), will be executed through a court-sanctioned scheme…
Tag: HEIT
Foresight proposes to acquire Harmony Energy Income Trust for £190.8 million
LONDON: Harmony Energy Income Trust plc (HEIT) announced Monday that its board has agreed in principle to financial terms proposed by Foresight Group LLP for a potential acquisition of HEIT’s entire share capital. Under the proposed agreement, HEIT shareholders would receive 84 pence per share in cash, valuing the company’s ordinary share capital at £190.8 million. The…