ENERGY

Bidding War Erupts for Britain’s Norweb: Two Texas utilities, Houston Industries Inc. and Central & South West Corp., made a friendly $2.7-billion takeover bid for the British utility. Hours later, Britain’s North West Water said it was raising its hostile offer to $2.72 billion from $2.5 billion. Executives at Houston Industries and Central & South West indicated that their bid of $16.68 a share is not final. Norweb said it will recommend that shareholders accept the Texas offer. Experts said Norweb is attractive because it has low costs and a reputation for strong customer service.