E.On Plans to Acquire Ovo Energy with 5.6M Customers

E.On has announced its plans to acquire Ovo Energy, which has 4 million customers, aiming to create one of Britain's largest energy suppliers. The deal's value is estimated to be as much as £600 million, although it has not been officially disclosed. Both companies will continue to operate separately during the regulatory review, and existing customer tariffs will be honored. Market share implications could see a merged entity compete closely with Octopus Energy for the top position in the UK market.