E.ON agrees to buy Ovo in deal to create UK’s biggest energy supplier

The German energy group E.ON has agreed to buy struggling UK rival Ovo in a deal that would create Britain’s biggest gas and electricity supplier. The combined company will serve about 9.6 million customers, overtaking the market leader, Octopus, which serves almost 8m households in the UK. The value of the deal was not disclosed, but reports have estimated it at £600m. E.ON said the takeover represented a significant investment in the UK market and would bring bills down for customers. …