VEOEY - P-E firm Ardian decides against bid for Suez

Suez (SZEVY) slides as much as 5% in European trade after French private equity firm Ardian said it will not make an alternative offer to buy most of Engie's (ENGIY) stake in the French water and waste utility, which is the target of an approach by rival Veolia (VEOEY).Shares in Engie, which must decide by end of today whether to accept Veolia's sweetened €3.4B offer for its 29.9% stake in Suez, are little changed.Veolia, which raised its bid to €18/share on Sept. 30 from its earlier offer of €15.5/share, said earlier that it unconditionally committed not to launch a hostile takeover for Suez after acquiring the stake from Engie.

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P-E firm Ardian decides against bid for Suez