On Friday last week, Guanabara, owned by Pedro Moura Costa, the founder and former managing director of EcoSecurities, made an indicative offer of 60p per share, which was followed by EDF Trading's announcement on Monday this week that it was considering making an offer of 75p a share for EcoSecurities.
EcoSecurities' board has said both offers would not be acceptable because they undervalue the company. London stockbrokers Mirabaud Securities has estimated EcoSecurities' fair value at 143p per
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