French utility company, Veolia announced that their want to make offer to acquire Engie's stake in water and waste management group Suez. First bid was 2.9 billion euros for a 29.9% stake in Suez last month.

Veolia last month offered to pay owned by Engie (PA:ENGIE), with a view to subsequently taking full control of Suez by buying up more shares. Suez Chairman Philippe Varin has called the Veolia bid "very hostile" and said Veolia's plans for the business were unrealistic.

"There is a legitimate debate on the price, clearly, and there will be a discussion to be had," said Veolia’s COO and CEO, Estelle Brachlianoff.

Performance of Veolia’s shares (Source: Tradingview.com)