"A consortium led by a Kuwaiti sovereign wealth fund and two pension companies raised its proposed offer for Severn Trent to £5.3 billion ($8.2 billion) on Friday, sending the British water utility’s share price up by as much as nine per cent.
LongRiver Partners comprising the Kuwait Investment Office, Britain’s Universities Superannuation Scheme and Borealis Infrastructure, which is part of Canadian pension fund Omers, submitted a conditional cash offer of 2,200 pence for each Severn Trent share to the company’s board.
Shares in Severn Trent rose as much as nine per cent to 2,200 pence after the announcement before settling back to trade at 2,105 pence in afternoon trading."
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