Astronomic bid for Ørsted's Danish DSO shocks analyst

Senior equity analyst Morten Imsgaard says that a DKK 26 billion bid for Ørsted's Danish transmission systems operator, Radius, is difficult to fathom. According to Bloomberg News, a group of Canadian investors has placed a bid of such a size.

Photo: Ritzau Scanpix/Mads Claus Rasmussen

Assessing the value of companies can be a difficult task, and at first glance, Ørsted's distribution systems operator (DSO), Radius, appears to be no exception.

The transaction was previously estimated by Danish bank Sydbank to have a value of approximately DKK 14 billion (EUR 1.88 billion), however, Bloomberg informed on Monday that the price could end being far higher. According to Bloomberg, a series of Canadian investors, German asset managers and one pension fund have place a bid of up to DKK 26 billion (EUR 3.62 billion) for Radius as well as Ørsted's domestic private customer division — almost twice that of Sydbank's estimate.

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