Paul Singer from the Elliott fund has announced an alternative plan to the EDP takeover bid from China Three Gorges.

Elliott believes that EDP is undervalued by the market and that the takeover bid is not in the best interest of shareholders. He argues that the price offered by the Chinese state-owned company of €3.26 per share is “unacceptable” and that the Chinese are not committed to resolving regulatory concerns.

News courtesey of