In the last three weeks utility stocks have risen significantly, there is no doubt that many of the german utilities have money to burn and still feel that they themselves could be under threat from an american utility. In order to bolster their chances of avoiding being eaten, they have become predators themselves.

EON is probably most mentioned with their withdrawl from the takeover of Endessa they have more money than they thought and perhaps a bid for International Power and Scottish and Southern could be on the cards. The careful thing to manage is not over paying for these companies and when you have already had one failed bid, sellers know that your stakeholders will not let you miss another opportunity, and so the process has become more expensive.