Scottish Power Run away!

Done well, retreat can be a good thing. Scottish Power’s sale of its troubled PacifiCorp subsidiary for $5.1bn in cash and $4.3bn in assumed debt is a case in point. The UK utility is throwing in the towel on its US subsidiary only five years after paying $12.8bn in cash and assumed debt. While the group will hold onto its small US wind and gas business, it is clear the foray has destroyed a substantial amount of capital. Bowing out is the right choice. How did everything go so wrong? Scottish ...