Endesa extends ad effort to fend off takeover bid

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[Madrid, Spain] Endesa, Spain's biggest electricity company, is extending a hard-fought local TV, print, radio and outdoor campaign to scupper rival Gas Natural's hostile $27.3 billion takeover bid to an international audience. Ads by Endesa's agency, Tapsa, Barcelona, will run in the U.S. and European editions of The Wall Street Journal and The Financial Times until March, an Endesa spokeswoman said. The ads highlight Endesa's 2005 financial performance, including the company's headline-grabbing $3.1 billion dividend payout, in an effort to convince international investors that they are better off without Gas Natural. In ads, the word "On" emerges from electrical sparks set against a deep blue background. "On the record," the text reads: "Endesa's results for 2005 ... are excellent." Gas Natural's ads, by JWT, are running only in Spain, but the company is widely expected to succeed in its takeover bid.
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