Suez vows to fight Veolia’s $13-billion takeover project

French waste and water firm Veolia has already secured 30% of the capital of its rival Suez and stands ready to launch an offer on the remainder of the shares but the month-long battle appears far from over as the target strongly reaffirmed its refusal to yield. Dubbing Veolia's acquisition of the bulk of Engie's stake in its capital as "hostile" and "irregular", Suez said on Tuesday it would "use all the means at its disposal to (...) avoid a creeping takeover or de facto control". Suez has already put up hurdles to fend off Veolia, including the creation a Dutch-based foundation to house its French water business.