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| Anglian Water firm in £2.2bn bid | Anglian Water firm in £2.2bn bid |
| (20 minutes later) | |
| The owner of Anglian Water has agreed to a £2.2bn takeover from a consortium including private equity firm 3i. | The owner of Anglian Water has agreed to a £2.2bn takeover from a consortium including private equity firm 3i. |
| AWG has recommended a 1555 pence per share bid, although the deal must still be approved by its shareholders. | |
| AWG, which has six million customers, said last month that it was in talks with an unnamed suitor. | AWG, which has six million customers, said last month that it was in talks with an unnamed suitor. |
| The Osprey consortium also includes the Commonwealth Bank of Australia, Industry Funds Management and Canada's Pension Plan Investment Board. | |
| 'First-class service' | |
| Cambridgeshire-based AWG employs 9,000 staff across the UK. | |
| Besides its water business, it also owns facilities management firm Morrison's. | |
| We are long-term investors Osprey Acquisitions | |
| Osprey Acquisitions, the company formed to make the bid, said its focus would be on delivering a "first-class service" to Anglian customers. | |
| "We are long-term investors," an Osprey spokesman said. | |
| "We are looking forward to supporting management's strategy of concentrating on delivering first-class service to customers and on its regulatory obligations, while seeking further operating and capital expenditure efficiencies." | |
| AWG said the offer was an "attractive opportunity" for its investors. | |
| "AWG's management has transformed the company and delivered a sustained improvement in performance for both shareholders and customers," said chairman Peter Hickson. | |
| "The board of AWG has considered the offer very carefully and unanimously recommends it to shareholders." |