RWE makes a £1.87bn public offer for Hidroelectrica del Cantabrico, beating a joint bid from EdP and CajAstur, as well as an increased bid from Ferrotatlantico and EnBW. RWE represented by Hengeler Mueller Weitzel Wirtz (Ulrich Blech) and Melchor De Las Heras Albinana & Suarez de Lezo (Carlos Pena). Financial adviser Lazard. Hidroelectrica del Cantabrico represented by Uría & Menéndez (Luis de Carolos) and Ramón y Cajal Albella & Palá (Sebastian Albella). Financial advisers Merrill Lynch and Schroder Salomon Smith Barney.

NCL Securities purchases Panmure Gordon Investments for £20m. NCL Securities represented by Royds Treadwell (Arthur Alexander). Financial adviser TR Van Oss. Panmure Gordon advised by Allen & Overy (Alistair Asher).

Enigma Holidays, a newco backed by Barclays Capital and the founder of Crystal Holidays, acquires the whole issued share capital of Esprit Holidays. Newco advised by Jones Day Reavis & Pogue (Peter Faber). Barclays Capital represented by DLA. Esprit Holidays advised by Stevens & Bolton.

Intelek acquires Paradise Datacom and a share of Paradise Datacom LLC for £18.3m. Intelek advised by DLA (Chris Rawstron) and Buchanan Ingersoll (Tom Buchanan). Financial adviser and broker Old Mutual Securities. Paradise Datacom represented by Solomon Taylor Shaw (Raymond Taylor).