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By Jesse Berst

The release (which you can see on  Page 2 of this article) confirms a "possible acquisition by Melrose PLC." The UK buyout firm has reportedly offered $20.50 per share or roughly $3.2 billion in aggregate. However, the deal is far from done. The release references only a "potential agreement" and says Melrose doesn't even have the financing in place yet.

The release asks more questions than it answers. Why is Elster shopping itself so hard and what does that say about the growth of the smart metering market? And why did it choose to reveal what are normally confidential negotiations? Stay tuned for more soap opera soon.

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Jesse Berst is the founder and chief analyst of Smart Grid News.com, the industry's oldest and largest smart grid site. A frequent keynoter at industry events in the U.S. and abroad, he also serves on advisory committees for Pacific Northwest National Laboratory and the Institute for Electric Efficiency. He often provides strategic consulting to large corporations and venture-backed startups. He is a member of the advisory boards of GridGlo and Calico Energy Services.

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