Scottish Power rejects £10bn bid

Powergen owner E.On revealed today it had been thwarted in its attempt to buy rival Scottish Power for more than £10bn (€14.6bn).

Germany-based E.On said it had ended takeover talks after failing to win the support of the Scottish Power board or secure access to its books.

E.On said it was “surprised and disappointed” by the reaction to the deal, which it added would have been “good for customers and shareholders alike”.