Geffen and Woodford urge higher bid for International Power

Robin Geffen and Neil Woodford are among shareholders in International Power calling for French utility firm GDF Suez to hike its bid for the group.

The investors urged GDF to raise its 390p per share bid for the 30% of International Power it does not already own. The current bid values the remaining stake at £6bn, and the whole group at £19.9bn, which the share price today values the business at £20.6bn, according to Dow Jones Newswires. Neptune co-founder Geffen (pictured) told Dow Jones the bid is "slightly light” and said he would have preferred an offer of at least 400p per share. "The stock has traded above 400p so that does indicate there are more buyers than sellers at 390p," he said. "There are quite a few institutions...