July 18 (Reuters) – French energy group GDF Suez (GSZ.PA) is working on a 6.4 billion pound ($9.8 billion) cash bid for Britain’s International Power (IPR.L), in the latest twist in a long-running courtship, the Mail on Sunday said.
The newspaper, citing unnamed sources, said GDF had met advisers NM Rothschild [ROT.UL], Goldman Sachs (GS.N) and BNP Paribas (BNPP.PA) over the move, adding it had the backing of the French government, its 35 percent shareholder.
Talks between the two groups over the 420 pence a share proposal were at an initial stage after discussions that lasted several months broke down in January, the Mail on Sunday added.
GDF Suez, International Power and Goldman Sachs declined to comment. NM Rothschild was not immediately available for comment, while BNP Paribas could not immediately be reached. (Reporting by Mark Potter and Victoria Howley; Editing by David Holmes) ($1=.6519 Pound)