US group enlists FD in bid for Yorkshire Electricity

The US utilities behind the pounds 1.5 billion bid for Yorkshire Electricity have brought in Financial Dynamics to help explain the merits of their offer in the UK.

The US utilities behind the pounds 1.5 billion bid for Yorkshire

Electricity have brought in Financial Dynamics to help explain the

merits of their offer in the UK.



Hired last week - just days before the bid was announced - Financial

Dynamics is working on a project basis for American Electric Power and

Public Service Company of Colorado. Both firms are joint stakeholders in

Yorkshire Holdings, the company which has been formed specifically to

acquire Yorkshire Electricity. The companies’ financial adviser Merrill

Lynch referred the PR business to the agency.



Although an agreed bid, Financial Dynamics has been briefed to promote

the takeover to the media, utility sector analysts, employees and local

customers. In particular, it is helping to establish the identity and

reputation of the bidders and highlight the financial and operational

benefits of the deal.



The account team is being led by chief executive Nick Miles. FD has

already worked on six agreed or contested electricity bids over the last

two years.



Yorkshire Electricity, meanwhile, has drawn on the support of Ludgate

Communications, which it has retained for three years. Led by director

Alex Macky, the agency is working with the company’s in-house PR team to

ensure acceptance of the takeover by customers, staff and investors.



It remains unclear, however, whether Ludgate or Financial Dynamics will

emerge as Yorkshire’s retained PR adviser if the bid is successful.



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