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GDF Suez ups bid to buy out power station

France's GDF Suez was on the brink of securing full control of Rugeley power station co-owner International Power.

The firm has increased its offer price for the 30% of the business not already in its hands to 418p a share, equivalent to £6.4bn.

The proposal has been backed by International Power's independent directors after they rejected an offer of 390p a share earlier this month.