May 15, 2018 |
Eletropaulo will decide on two takeover proposal by May 30, the Brazilian power distributor said in a securities filing on Monday.
Italian utility Enel, through its Brazilian subsidiary, has bid BRL32.2 ($8.9) for each Eletropaulo common share, while Neoenergia is currently offering BRL32.1 for each share in the Brazilian company.
Both companies have until May 24 to revise their bids ahead of a scheduled auction on June 4.
Neoenergia, controlled by Spain's Iberdrola, said last week it had req
Neoenergia and Enel's Brazilian arms will get a decision from the power distributor by May 30