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
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.