Leading Swiss utility Axpo said on Thursday that its public offer for the share capital of EGL, another Swiss utility, has succeeded. Axpo announced its offer for all outstanding EGL shares still held by the public on Jun. 27; the deadline was Aug. 12. It now says it controls 99.2% of EGL's voting rights and share capital, up from 91% before Aug. 12. A supplementary period during which the public offer may still be accepted starts today and ends on Sep. 1, after which Axpo has said it will delist EGL (IOD Dec.4'08).
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