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Article: PSNH confirms offer from NEES. (Public Service Company of New Hampshire, New England Electric System)
- Article from:
- PR Newswire
- Article date:
- April 5, 1989
CopyrightCOPYRIGHT 1989 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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PSNH CONFIRMS OFFER FROM NEES
MANCHESTER, N.H., April 5 /PRNewswire/ -- Public Service of New Hampshire (PSNH) (NYSE: PNH) confirmed today that is has received a proposal from New England Electric System (NEES) (NYSE: NES) under which NEES would acquire PSNH's operating assets.
According to PSNH President and Chief Executive Officer John C. Duffett, PSNH welcomes NEES' interest. He said management and its merger and acquisition advisor, The First Boston Corp., will analyze the offer and refer it to the company's board for consideration.
"We are pleased to see that another serious qualified bidder has valued PSNH at a level it describes as ...