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Article: Northeast Utilities Files Suit Against Consolidated Edison to Recover Value of Breached Merger Agreement for Northeast Utilities Shareholders.
- Article from:
- PR Newswire
- Article date:
- March 12, 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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Suit to Seek Damages in Excess of $1 Billion
BERLIN, Conn., March 12 /PRNewswire/ --
Northeast Utilities (NYSE: NU) announced today that it has filed suit against Consolidated Edison, Inc. (NYSE: ED) seeking damages in excess of $1 billion arising from Con Edison's breach of the merger agreement between the two companies. Northeast Utilities announced on March 5 that Con Edison had breached the merger agreement by advising Northeast Utilities that it was not willing to close the parties' pending merger on the previously agreed upon terms. The suit was filed today in the U.S. District Court for the Southern District of New York.
Michael G. ...