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Article: It's Official -- NEES/National Grid Merger is Complete; NEES Renamed National Grid USA.
- Article from:
- Business Wire
- Article date:
- March 22, 2000
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Business Editors
WESTBOROUGH, Mass.--(BUSINESS WIRE)--March 22, 2000
The merger between The National Grid Group plc (National Grid) and New England Electric System (NEES) is complete, and NEES officially has been renamed National Grid USA, according to Rick Sergel, president and chief executive officer of National Grid USA.
Sergel and National Grid Group Chief Executive David Jones signed documents to close the deal that was announced on December 14, 1998. The final sale price for the merger was $3.2 billion, and the final price of NEES shares was $54.207.
"We agreed to merge our companies with the belief that our customers, our ...