Ecotricity’s increased offer gets little takeup from Good Energy shareholders

With ten days to go before its offer for Good Energy share closes, Ecotricity says it has received acceptances for just 3% of the issued ordinary share capital. The offer, which closes on 10 October, was increased from 360p to 400p on 16 September. At that time the board of Good Energy said it “recognises that the Revised Offer is a significant increase over the original” but said it undervalued Good Energy financially and the board “firmly believes Ecotricity is an unfit owner with an unsuitable plan from the point of view of the Company and its stakeholders.”
Ecotricity’s Dale Vince surprised green energy campaigners in September when he joined the Daily Express in a campaign to ‘save gas boilers’ by replacing fossil gas with biogas produced from grass.