Update 2 – Hitachi near British nuclear project deal

Hitachi made best offer

Hitachi Ltd , Japan’s largest industrial electronics maker, is close to buying British nuclear new-build project Horizon, two people familiar with the matter told Reuters.

“Hitachi has made the best offer and has a good chance to get Horizon,” a source familiar with the matter told Reuters, speaking on condition of anonymity.

Another person with knowledge of the proceedings also said Hitachi, which is leading a consortium bidding for the project, was likely to be the winner.

Japanese media said on Saturday the deal was expected to be worth more than 50 billion yen ($628.5 million) while analysts have put the value of Horizon at about 500 million euros ($646.6 million).

Read the full article here http://www.reuters.com/article/2012/10/27/hitachi-horizon-idUSL3E8LR05X20121027?feedType=RSS&feedName=bondsNews

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