Woodford gets dividend boost from International Power deal

Neil Woodford will receive a dividend boost from top-20 holding International Power after GDF Suez agreed a special payout in excess of £1.3bn to sweeten its proposed tie-up.

Woodford's Invesco Perpetual is the largest shareholder in International Power, holding an 11% stake in the FTSE 100 company. GDF's acquisition, structured as a reverse takeover, will see the group take control of 70% of the enlarged company. The Paris-based group plans to combine its assets in the UK, Turkey and outside Europe with International Power. Woodford, the head of investments at Invesco Perpetual, previously told The Times the deal made "a lot of sense". The stock was a 1.5% holding across the manager's giant income portfolios at end March. GDF plans to pay International...