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Last Updated: Wednesday, 9 November 2005, 17:25 GMT
US bidder for Drax power station
Drax power station
Drax power station burns 36,000 tonnes of coal every day
US electricity firm Constellation Energy has made a firm takeover bid for Drax, Britain's biggest power station.

Constellation says it has made a "realistic bid" for Drax after taking a look at the company's books.

Two other groups had made initial approaches valuing Drax at around 2bn, but neither followed up with a firm takeover offer.

Drax has not commented on the bid and has said it is pursuing plans to float on the London stock market in December.

The power station in North Yorkshire generates 7% of the UK's energy needs.

It employs 560 people and is owned by creditors after going into administration in 2003.


SEE ALSO:
New bid for power station snubbed
19 Oct 05 |  Business
Fresh bid for Drax power station
13 Oct 05 |  Business
Power station ponders 1.9bn bid
14 Sep 05 |  North Yorkshire
Power station Drax set to float
22 Mar 05 |  Business


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