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E.ON and PowerGen locked in takeover negotiations

PowerGen has confirmed that it still in discussions with Germany's E.ON, following reports that E.ON would pay a 30% premium to take over the UK power company.

PowerGen shares closed at £6.88 (€11) on Wednesday, but by 0900 GMT on Thursday had risen to £7.15. E.ON's shares were down to €48.9 ($43.5) from Wednesday's close of €50.

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