Acquisition of ScottishPower by Iberdrola

The friendly acquisition of ScottishPower by Spanish utility Iberdrola, which closed in April 2007, was the second biggest M&A deal announced to the UK market in 2006 and the biggest ever UK transaction involving utilities.

Described by Iberdrola chairman Ignacio Galan as "a model transaction", the EUR17 billion takeover created one of the world's biggest power companies, with a total enterprise value of EUR65 billion, generation capacity of 40,000MW (with 16,500MW from renewables, making it a