British Energy Group (BGY) rose 38 pence (.75 USD) or 5.4 percent on the London Stock Exchange in trading Thursday. The jump occurred after reports that RWE, Germany's second-biggest utility, had made an £11 bn (21.7 bn USD) offer for BGY.
"British Energy is clearly in play," said Edward Collins, a London-based fund manager at New Star Asset Management Group Plc. He helps manage $41 billion of investments including British Energy shares. "New nuclear is absolutely essential. British Energy has an unrivaled strategic position."