EDF revamps offer for British Energy

French utility EDF launched a 12.5 billion pound ($23.14 billion) agreed bid for nuclear operator British Energy, in a revamped offer to take control of Britain's nuclear power industry.

EDF, the world's biggest maker of nuclear energy, said on Wednesday it was offering 774 pence per British Energy share. It also proposed an alternative of 700 pence in cash plus one nuclear power note, a financial instrument linked to BE's future performance. The agreement follows months of wrangling.

The British government, which owns 35 percent of British Energy, accepted an earlier proposed offer from EDF but investors Invesco and M&G, which own around 22 percent of the company, turned it down as too low. The new offer is worth just 9 pence a share more.