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. Last Updated: 07/27/2016

Spanish Power Bid

MADRID, Spain -- Texas Utilities announced Monday a takeover bid for Hidroelectrica del Cantabrico, the most aggressive of Spain's power firms, in a deal analysts say is worth up to 2.3 billion euros ($2.2 billion).

The bid, announced only hours after Prime Minister Jose Maria Aznar won a second four-year term in a general election, is expected to act as a catalyst for mergers and acquisitions in the Iberian power sector.

A more liberalized power market, which Aznar's new government is seen as supporting, is expected to push current players to tighten links with one another.