This week’s deal of the week is a potential USD 8.11 million takeover bid by a consortium of funds for Severn Trent, a UK water utility. The WSJ says the deal is potentially the largest takeover of a UK-based water company since the industry was privatized in 1989. The utility said it had received bids from institutional investors including Borealis, which invests on behalf of, the Ontario Municipal Employees Retirement System.
Other bidders are Kuwait Investment Office and Universities Superannuation Scheme. These are typically the kind of investors that invest in GP funds but as has been reported in earlier newsletters, they are doing more direct deals these days.