SHARES in Europe's biggest coal-fired power station began trading yesterday - a month after takeover talks with three potential suitors fell through.
Drax, which is based in North Yorkshire and provides enough power to meet seven per cent of the UK's electricity needs, joined the London Stock Exchange with a share price of 500p.
It valued the company at about £2bn, putting it broadly on a par with the price that a consortium led by US-based energy group Constellation was willing to pay before pulling out of talks last month. Other potential offers, including a joint proposal from International Power and Japanese partner Mitsui, were also withdrawn last month.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article