France to pay $10b to take control of EDF
France's government is offering to pay 9.7 billion euros ($9.85 billion) to take full control of EDF, in a buyout deal that gives it a free hand to run Europe's biggest nuclear power operator as it grapples with a continent-wide energy crisis.
The finance ministry said in a statement on Tuesday that the government would offer EDF's minority shareholders 12 euros per share, a 53 per cent premium to the closing price on July 5, the day before the government announced its intention to fully nationalise the debt-laden group.
EDF shares, which resumed trading on Tuesday after a one-week suspension pending details of the government buyout plan, had jumped 15 per cent to 11.80 euros by 0836 GMT.
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