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Energy Group has announced the sale of the Peabody coal business in the US and Australia, as well as Citizens Power in the US, to the Lehman Merchant investment bank for £1.37bn. 21-May-1998 Texas Utilities has had its £4.45bn offer for Energy Group recommended by the UK electricity company's chairman following the withdrawal of PacifiCorp from negotiations. 01-May-1998 The British Takeover Panel has suspended the bid timetables for the takeover offers made by PacifiCorp and Texas Utilities for Energy Group, in order to allow the bidders to revise their bids in an orderly way. 24-Apr-1998 Texas Utilities of the US has been given the government go-ahead to continue with its £4.45bn bid for Energy Group, and PacifiCorp will now have to decide whether to renew its interest in the UK electricity supplier. 18-Apr-1998 Texas Utilities has been given conditional clearance from the Texas Public Utility Commission to bid for Energy Group, but the company has still not yet come forward with a bid to top the one from PacifiCorp. 12-Feb-1998 Nomura International has withdrawn from the battle to acquire Energy Group due to difficulties negotiating the sale of parts of the business. 11-Feb-1998 Nomura International has confirmed that it will break up Energy Group if it succeeds with its bid, and is already in discussions concerning the sale of Peabody, Energy's US coal business. 03-Feb-1998 Nomura International has expressed an interest in acquiring Energy Group, the owner of Eastern Electricity, but it will face competition from PacifiCorp and Texas Industries of the US. 29-Jan-1998 The government has given PacifiCorp of the US the go-ahead to rebid for Energy Group, having previously expressed concern about the ability of UK authorities to regulate Energy Group's Eastern Electricity distribution business. 20-Dec-1997 Energy Group's Eastern Natural Gas subsidiary has acquired a 30% stake in the Esmond Transportation System pipeline, which transports gas to the Bacton terminal in Norfolk, from BHP for £4m. 02-Dec-1997 Eastern Electricity, part of the Energy Group, and London Electricity have responded to Centrica's pledge to undercut electricity tariffs by 15% with promised reductions of 20-25% when the market opens to competition. 31-Oct-1997 Peabody, part of the Energy Group, has a 25% stake in an international consortium that has won a tender to acquire and modernise the 450MW Kangal coal-fired power plant in Turkey. 27-Oct-1997 Energy Group is acquiring Southern Energy's 49% stake in the Zamosc Energy Company, which has the rights to develop three 70MW co-generation plants in Poland. 10-Sep-1997 PacifiCorp's £3.65bn bid for Energy Group has been referred to the Monopolies & Mergers Commission, due to government concern over its ability to regulate the company afterwards. 02-Aug-1997 The Energy Group has agreed to sell the power trading activities of Citizens Power, the US electricity company, in order to win approval for its takeover by PacifiCorp. 12-Jul-1997 PacifiCorp of the US has launched a £3.65bn recommended offer for Energy Group, although some analysts fear it may be referred to the Monopolies & Mergers Commission. 14-Jun-1997 PacifiCorp of the US is said to be considering a £3.6bn bid for Energy Group, the UK electricity and coal company that was demerged from Hanson. 11-Jun-1997 Energy Group is to develop a 500MW power station and lignite mine at Barsingsar in India in a joint venture with Hindusthan Development Corporation. 17-Apr-1997 Energy Group has been shortlisted to acquire New England Electric Systems, the US power generator that is being auctioned off. 14-Apr-1997
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