Guy Hand, the City entrepreneur who runs private equity group Terra Firma, could fire off a bid for Birmingham-based water company Severn Trent if he fails to acquire Thames Water.
A city source told The Observer “After Thames, Severn [valued on the stock market at £5bn] is one of the biggest and most attractive water companies in the sector, so is bound to be a bid target”.
The final offers for Thames, which is being sold by German utilities giant RWE, are due this weekend with suitors delivering their bids in sealed envelopes to Goldman Sachs’ offices in London.
References: The Observer 15 October 2006 Business & Media Page 1
