3i behind approach for Anglican Water

The unnamed bidder behind a takeover approach for the owner of Anglian Water was today said to be a consortium that includes UK private equity group 3i and a Canadian government pension fund.

AWG, which owns Anglian and Hartlepool Water, said yesterday it had received “a preliminary approach” which could lead to an offer being made for the company but would not reveal the suitor.

Shares hit a record high – rising 11% to 1512p – valuing the company at around £2.2bn (€3.26bn) as investors banked on a bid being tabled.

According to the Financial Times, the consortium includes CPP Investment Board of Canada, fund manager Colonial First Estate of Australia and 3i as a junior partner.