Upon completion of the transaction, Bangor Hydro would become a wholly owned subsidiary of Emera, but would continue to operate with the same name. Management operation and employment at Bangor Hydro will be largely unaffected by the merger. After the closing of the transaction, each of Bangor Hydro’s outstanding warrants to purchase common stock will entitle the holder to receive US$26.50 in cash, less the exercise price. The petition is the first step in a process that includes approvals from BHE shareholders and from various regulatory agencies, including the Maine Public Utilities Commission, the Securities and Exchange Commission, and the Federal Energy Regulatory Commission. The companies anticipate that completion of these approvals will take 9 to 12 months.
THE WOODLANDS, TX–An agreement has been reached between Entergy Gulf States Inc., resident associations and the developer to resolve the issue of new power lines in The Woodlands. A network of underground express distribution feeder lines, combined with transmission lines outside developed residential areas, should avert the need for hearings before the Public Utility Commission of Texas regarding new Entergy Gulf States Inc. overhead power lines in residential areas of The Woodlands.