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US investors enter bid for Drax

BHP Billiton’s attempt to secure control of the big Drax power station in northern England has received another setback with a US investment group making a counter bid.

Tim Treadgold
US investors enter bid for Drax

The firm of Miller, McConville, Christen, Hutchison and Waffle (known as MMC) said it would inject GBP100 into Drax but not buy any of the power station’s debt. BHPB’s offer, and other proposals including...

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