Suez on Monday sought to end the long drawn-out saga of its stalled merger with state-owned Gaz de France by writing directly to French president Nicolas Sarkozy with what could be its final offer to resolve the impasse over valuation.

Gérard Mestrallet, chairman of the private French utility group, sent a letter to the president proposing that the government transfer the shares it holds in Suez through various state entities to GdF.