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Article: Northeast Utilities Declares Consolidated Edison in Breach of Merger Agreement.
- Article from:
- PR Newswire
- Article date:
- March 5, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Company to Sue Con Edison to Recover Value of Merger for NU Shareholders
Northeast Utilities Substantially Stronger and More Valuable
Today Than When Merger Agreement Signed
BERLIN, Conn., March 5 /PRNewswire/ --
Northeast Utilities (NYSE: NU) announced today that Consolidated Edison, Inc. (NYSE: ED) had advised NU that it was not willing to close the parties' pending merger on the previously agreed upon terms. Northeast Utilities said that it had notified Con Edison that it was treating its refusal to proceed on the terms set forth in the parties' merger agreement as a repudiation and breach of the merger agreement, and that it will ...