UPDATE 1-British Energy gets bid approaches at a premium

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LONDON, May 16 (Reuters) - British nuclear power generator British Energy (BGY.L: Quote, Profile, Research) has received a range of takeover proposals, including some priced above Thursday's closing share price of 680 pence per share, it said on Friday.

Shares in British Energy have declined 13 percent from a 785p all-time high on May 25 as hopes of a bidding war at a significant premium to its share price have faded.

Britain's Centrica (CNA.L: Quote, Profile, Research) and France's EDF (EDF.PA: Quote, Profile, Research) were prepared to make offers at less than 700p/share, sources familiar with the matter told Reuters last week.

British Energy said on Friday it had received a range of proposals from several parties wishing to make a full offer for the company including the Nuclear Liabilities Fund, which represents the UK government's 35 percent stake.

The process of evaluating the proposals is likely to take a number of weeks, British Energy said.

"The board has reviewed the proposals and has decided that discussions should continue with all the parties concerned."

Britain's Centrica (CNA.L: Quote, Profile, Research) has made an indicative all-share offer of under 700p/share, industry sources told Reuters last week.

France's EDF (EDF.PA: Quote, Profile, Research) was expected to make an offer "substantially" less than 700 pence per share, sources familiar with the matter previously told Reuters.

Spain's Iberdrola (IBE.MC: Quote, Profile, Research) is also interested, an industry source told Reuters last week. (Reporting by Chris Wills, Editing by Quentin Bryar) (chris.wills@thomsonreuters.com; 0044 (0)20 7542 5331; Reuters Messaging: chris.wills.reuters.com@reuters.net))