The board of France's Electricite de France (1024251.FR) has approved the terms of a sweetened offer for U.K. nuclear generator British Energy Group PLC (BGY.LN), The Daily Telegraph reported Tuesday.
Without citing sources, the newspaper said the French company's board had Monday approved the increased cash offer of 774 pence a share ahead of a likely announcement Wednesday.
The newspaper also said that EdF may unveil which of British Energy's eight nuclear reactors it plans to put up for sale.
Press reports over the weekend said EdF would most likely sell off Dungeness in Kent and Bradwell in Essex.