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    Home > Finance > UK takeover panel sets May 21 auction for Harmony Energy
    Finance

    UK takeover panel sets May 21 auction for Harmony Energy

    Published by Global Banking & Finance Review®

    Posted on May 16, 2025

    1 min read

    Last updated: January 23, 2026

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    Quick Summary

    The UK takeover panel has set a May 21 auction for Harmony Energy after no final offers were submitted. The auction will have up to five rounds.

    UK Takeover Panel Schedules Auction for Harmony Energy

    (Reuters) - The UK takeover panel said on Friday it had planned an auction for May 21 to conclude the sale of Harmony Energy Income Trust, after rival bidders failed to submit final offers for the British battery storage investment firm.

    The bidding process follows a proposal last month from two funds managed by British investment manager Foresight Group LLP, which valued Harmony at around 209.9 million pounds ($278.12 million), surpassing an earlier 199.9 million pounds bid from British power company Drax.

    The outcome of the auction, which will consist of up to five rounds, is expected to be announced on May 22.

    ($1 = 0.7547 pounds)

    (Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Mohammed Safi Shamsi)

    Key Takeaways

    • •UK takeover panel plans May 21 auction for Harmony Energy.
    • •Rival bidders failed to submit final offers.
    • •Foresight Group's proposal valued Harmony at 209.9 million pounds.
    • •Drax's earlier bid was 199.9 million pounds.
    • •Auction outcome expected on May 22.

    Frequently Asked Questions about UK takeover panel sets May 21 auction for Harmony Energy

    1What is the main topic?

    The main topic is the UK takeover panel's auction for Harmony Energy scheduled for May 21, following unsuccessful final offers from bidders.

    2Who are the main bidders?

    The main bidders are two funds managed by Foresight Group LLP and British power company Drax.

    3What is the value of the bids?

    Foresight Group's proposal valued Harmony at 209.9 million pounds, surpassing Drax's earlier 199.9 million pounds bid.

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