Iberdrola Bids $22.5 B for Scottish Power

Madrid, Spain [Bloomberg] Iberdrola SA, Spain’s second-largest power company, agreed to buy Scottish Power Plc for 11.6 billion pounds ($22.5 billion) and gain access to customers and power plants in the U.K. and North America. … European utility takeovers this year have surged about 33 percent to more than $200 billion as companies seek to add clients before energy markets open to full competition next year. … Iberdrola… is carrying out studies for a city government in northern China to develop as much as 1,000 megawatts of wind power plants there by 2010.
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