Abstract
Overview
Introduction
Europe is currently the most active gas and power M&A market in the world. The
lead-up to full market liberalization is pushing deal activity to ever higher
levels. Political involvement will continue to influence deal-making, and the
EU will be forced to confront a tension between free movement of capital and
anti-competitive consolidation.
Scope
- An examination of acquisition premiums and how they relate to gas and
power M&A strategies.
- A review of government involvement in European gas and power M&A.
- An analysis of the impending conflict between free capital flows in the EU
and the drive for effective EU-wide competition.
- A projection of market competitive intensity.
Report Highlights
The Commission's defence of open energy investment is conversely leading to
major industry consolidation and possibly an undermining of competition.
By the end of 2007 it is highly likely that the 6 largest utilities will
account for over 50% of total European gas and power supply.
Reasons to Purchase
- Understand key features of European M&A activity in 2007.
- Understand how M&A-driven industry consolidation will spur EU competition
action.
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