Gas firm deal is sweetened

The board of Scottish smart metering firm Energy Assets Group (EAG) has recommended an improved takeover offer to shareholders.

A deal with Euston BidCo had been recommended in April, but a number of investors had declared an intention to vote against the scheme.

Euston, which is indirectly owned by investment funds controlled and managed by Alinda, has now returned with an improved offer, valuing the business at £209 million.

The move has helped it secure support for the acquisition from a number of major investors.

EAG shares rose 51p to 719p.