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Shares in United Utilities, the UK’s largest publicly listed water company, have reached a four year high following the speculation that it will soon be subject of a takeover bid.
Formed in 1995, United Utilities supplies clean water to over 3 million homes across the north west of England. The company has recently experienced revenues of £1.56 billion, up from £1.52 billion last year, and operating profits of £591.5 million, up from £580.2 million.
Bids for the FTSE 100 firm are being submitted from the Canadian pension fund Ontario Teachers, Qatari and Abu Dhabi funds, and the Chinese Investment Corporation.
The bid is expected to be in the region of about £6.1 billion ($9.5 billion).
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com