gets cold in europe

Know company from working for them

foreign utility

canada stock market cap 101 billion

valuation

GERMAN POWER AND CHEMICALS GIANT E.ON generated hefty gains in its stock price last week when it took the wraps off a package of strategic initiatives that will return billions of dollars to shareholders. E.ON, which is on track to transform itself from a conglomerate into the world's leading electricity-and-gas utility, has divested assets worth more than $80 billion over the past several years. Investors had been critical of the company's use of its cash, however, and had moved on to other, albeit smaller, European utilities.

In an effort to win them back, E.ON, with annual sales of some $91 billion, will spend up to $9.4 billion buying as much as 10% of its stock by the end of 2008. E.ON's American depositary receipts, which trade on the Big Board under the ticker EON, set a 52-week high Wednesday of 55.95.

2.3%