British Energy has rejected the initial takeover bids that it has received. Image shows British Energy’s Dungeoness Power Station (credit British Energy Plc)

Following the announcement that it had received a number of potential business proposals, British Energy has stated that it is still in discussion with interested parties.

The energy company, which is the UK’s largest producer of electricity, has received takeover proposals from several companies, plus a convertible cash sweep interest from the Nuclear Liabilities Fund.

However, British Energy has rejected these proposals, stating that the offers “do not represent value for shareholders as they fail to take proper account of the current forward price of electricity and the value of the company’s sites and people in the context of nuclear new build.”

British Energy owns and runs eight nuclear power stations and one coal-fired station, and has also recently announced plans for a second nuclear build at its Sizewell site in Suffolk.