Spanish independent Perez-Llorca has scooped a landmark role advising E.ON on its E29.1bn (£19.94bn) counter bid for Endesa, as the German giant attempts to trump Gas Natural’s controversial hostile tender.

E.ON, the world’s largest private power and gas company, announced this morning (21 February) that it was to offer E27.50 (£18.84) cash for each Endesa share, for a total value of E29.1bn.