MADRID (Dow Jones)--Endesa SA (ELE) said Friday it is considering appealing the Spanish government's decision to conditionally clear Gas Natural SDG SA's EUR22 billion takeover bid for Spain's largest electricity company.
In a release, Endesa said it needed to study the government's ruling, but that "an initial analysis recommends Endesa lodge an appeal with the Supreme Court against the decision."
The government's clearance of Gas Natural's hostile bid for Endesa - with a total of 20 conditions attached - was the most important regulatory decision in the takeover process.
The deal will now go to Spanish and U.S. stock market regulators for clearance before Gas Natural can put the offer to Endesa shareholders.
Company Web site: http://www.endesa.com
Company Web Site: http://www.gasnatural.com
-By Jonathan House, Dow Jones Newswires; +34-91-3958121; email@example.com
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