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Jun. 11, 2013, 3:34 PMThe LongRiver Partners consortium that wanted to buy Severn Trent (SVTRF.PK) for £5.3B ($8.24B) has walked away after the U.K. water utility rejected three previous conditional offers. The consortium had until 4.00 pm GMT today to make a formal offer under U.K. M&A rules but chose not to, meaning it won't be able to make another offer for Severn Trent for six months. | Comment!
Jun. 10, 2013, 7:30 AMAs a key deadline approaches in the battle for control of British water utility Severn Trent (SVTRF.PK), the investment group that offered $8.2B (£22/share, or $34.15/share) to buy the company says it will walk away unless Severn Trent enters into discussions. Under British takeover rules, the group has until tomorrow to outline an official offer or must walk away from the deal. | Comment!
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