Centrica plc confirmed today that it is in discussions for the acquisition of NewPower Holdings Inc. (NewPower). Pending the resolution of a number of issues, the parties are discussing a cash tender offer of $1.05 per share for all of NewPower's outstanding stock and warrants, subject to price adjustments based on changes in commodity prices and further subject to a variety of conditions for closing the tender offer.
Holders of the majority of the outstanding shares and warrants of NewPower have indicated their intention to support the transaction currently being discussed. There can be no assurances that the outstanding issues will be resolved and a transaction will be announced.