Asset manager on energy company bid: "egregiously low"

The bid on the world's fourth-largest producer of wind energy is "egregiously low" says UK capital fund Ecofin.

British equity fund Ecofin is far from impressed with the acquisition offer from EDP. In fact, the fund has gone so far as to call it an "egregiously low," offer reports Reuters.

The bid from the Portuguese company EDP has been issued for its subsidiary EDP Renovaveis, which works with renewable energy. EDP hopes to acquire 22.47 percent of the company and aims to delist the company, reports Reuters.

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