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    NG.   GB00BDR05C01

NATIONAL GRID PLC

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U.K. Regulator Serves Enforcement Order on National Grid's WPD Acquisition

06/10/2021 | 12:44am EDT

By Joe Hoppe

The U.K.'s markets regulator said Thursday that it has served an initial enforcement order on National Grid PLC, relating to its expected acquisition of Western Power Distribution.

The Competition and Markets Authority said that it served the order on June 9, preventing the full integration of National Grid and WPD.

National Grid had said on March 18 it was looking to buy WPD from PPL Corp. for an equity value of 7.8 billion pounds ($11.01 billion).

WPD owns four distribution networks in the U.K., delivering power to around 7.9 million customers. The acquisition was expected to complete around July.

Write to Joe Hoppe at joseph.hoppe@wsj.com

Corrections & Amplifications

This item was corrected at 0750 GMT to reflect that the Competition and Markets Authority said that it served the initial enforcement order on June 9. The original version incorrectly said the order had been issued on May 17 in the second paragraph.

(END) Dow Jones Newswires

06-10-21 0244ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.21% 33874.24 Delayed Quote.10.91%
NATIONAL GRID PLC -1.21% 918.9 Delayed Quote.7.54%
PPL CORPORATION -0.71% 27.79 Delayed Quote.-0.74%
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Financials
Sales 2022 15 345 M 21 427 M 21 427 M
Net income 2022 2 221 M 3 102 M 3 102 M
Net Debt 2022 37 478 M 52 333 M 52 333 M
P/E ratio 2022 14,7x
Yield 2022 5,46%
Capitalization 32 670 M 45 624 M 45 619 M
EV / Sales 2022 4,57x
EV / Sales 2023 4,34x
Nbr of Employees 23 683
Free-Float 92,9%
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Technical analysis trends NATIONAL GRID PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 17
Last Close Price 9,19 GBX
Average target price 1 022,38 GBX
Spread / Average Target 11 026%
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Managers and Directors
NameTitle
John Mark Pettigrew Chief Executive Officer & Executive Director
Andrew Jonathan Agg Chief Financial Officer & Executive Director
Paula Rosput Reynolds Chairman
Adriana Karaboutis Group Chief Information & Digital Officer
Lisa M. Lambert Chief Technology & Innovation Officer
Sector and Competitors
1st jan.Capitalization (M$)
NATIONAL GRID PLC7.54%46 032
ELECTRICITÉ DE FRANCE-10.59%43 339
SEMPRA ENERGY7.49%41 463
ENGIE-6.31%33 753
E.ON SE9.59%30 836
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED3.02%30 114