Commonwealth Bank has joined ERM Power's campaign for the NSW government's Macquarie Generation, The Australian Financial Review reports.
According to the newspaper, CBA and possibly JP Morgan will help managed the retail end of ERM's entitlement offer, expected to be in the "low hundreds of millions" of dollars, after the race for the assets moved to two – AGL Energy the other – following the withdrawal last week of China's Shenhua Group. Final bids are due in early February.
EGO Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
