VEOEY - Suez gets $13.7B offer from P-E firms in challenge to Veolia

Ardian and Global Infrastructure Partners have approached Suez with an €11.31B ($13.66B) takeover offer as an alternative to a bid from Veolia Environnement (VEOEY).Suez (SZEVY) said late Sunday that its board unanimously backed a proposal from Ardian and GIP to buy Suez shares at €18/share.Veolia previously acquired a 29.9% stake in Suez from Engie, although the process has become mired in legal disputes, with Suez opposed to what it considers a hostile takeover.Veolia says its stake in Suez is not for sale and it considers hostile any proposal involving a sale or transfer that would thwart its efforts to take over Suez.Regardless of the Suez acquisition outcome, Veolia's prospects are bright and its shares trade at a sharp discount to other large waste and water utility companies, Silver Coast Research writes in a bullish analysis published on Seeking Alpha.

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Suez gets $13.7B offer from P-E firms in challenge to Veolia