Linklaters is in line to act on a high-profile multi-billion pound bid for utilities group AWG, owner of Anglian Water.

AWG confirmed last week (14 September) that it had received a preliminary approach, which is understood to be worth around £2.2bn, from a consortium of investors led by Canada Pension Plan and including private equity house 3i.

Linklaters structured finance head Julian Davies has previously acted for AWG and Anglian Water and the firm is understood to have already put together a team of corporate lawyers to advise on the latest approach. Linklaters refused to comment.