Source: Sharecast
Including the dividend, the offer values the solar investor at roughly £561m and will be carried out through a court‑sanctioned scheme of arrangement.
Drax said on Monday that the acquisition would materially expand its renewables business by adding BSIF's roughly 0.9GW portfolio and development pipeline, boosting underlying earnings from clean energy and improving cash‑flow visibility.
The FTSE 250-listed firm also stated the move aligns with its capital allocation priorities to allocate up to £2bn of incremental investment, primarily in flexible and renewable energy to create value and growth in the short, medium and long-term, and to support delivery of the UK's objectives of energy security, affordability, and decarbonisation.
BSIF's board has unanimously recommended the offer to shareholders.
As of 0815 BST, Drax shares were up 0.51% at 795.50p.
Reporting by Iain Gilbert at Sharecast.com
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