Top Woodford stock International Power in takeover talks

Star Invesco Perpetual manager Neil Woodford is once again likely to take centre stage in takeover discussions, with top-20 holding International Power in talks to combine assets with French giant GDF Suez.

The two energy groups are in talks to create an enlarged London-traded company, majority-owned by GDF, after reopening discussions which initially broke down in January. Invesco Perpetual is International Power's largest shareholder, owning about 11% of the group. International Power was a 1.5% holding across Woodford's giant income portfolios at end March. The renowned fund manager has figured prominently in previous energy takeovers, forcing EDF to improve its bid for British Energy in 2008, the Financial Times reported. An agreement between International Power and GDF Suez would...