EDP shareholders vote down China Three Gorges $11bn offer.

EDP shareholders failed to agree on the China Three Gorges proposal. China Three Gorges, China’s biggest clean energy company offered €9.1bn ($10.9bn) to buy the shares that it doesn’t already own of electricity giant EDP-Energias de Portugal, an integrated generator, supplier and distributor of electricity, the largest company by assets in Portugal with businesses in Brazil, Spain, and the United States. The €3.26 per-share bid is 4.8% higher than EDP’s closing stock price of €3.11 in Lisbon. EDP-Energias de Portugal SA’s executive board reaffirmed that the €9.1bn ($10.7bn) takeover offer from China Three Gorges is low and said it will seek more information from the bidder about its plans for the Portuguese utility.