The price for Westinghouse, the US-based nuclear engineering company which has been put up for sale by its owner, British Nuclear Fuels, has risen to about $2.6bn (£1.5bn) as the final week approaches before bidders must table formal offers.

General Electric and Shaw of the US, Japan’s Toshiba and Mitsubishi Heavy Industries, and Doosan Heavy Industries, based in Korea, are still in the running. They must submit offers by 19 December. Rothschild, the investment bank handling the sale for BNFL, which is owned by the UK Government, will whittle down the group to two finalists by about 10 January and a decision on a winner could be made as early as February.

Posted: 12|8|05 at 9:47 am. Filed under: UK News.