Massachusetts’ Eastern Enterprises clearly has embraced theconcept of consolidation and is doing deals to prove it. Fresh fromits acquisition of Essex County Gas, the Boston Gas parent lastweek said it will buy nearby Colonial Gas Co. for nearly half abillion in stock, cash, and assumed debt. The deal grants a 27%premium to Colonial’s closing price preceding the deal’sannouncement.
Fresh
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Eastern Enterprises Buys Another LDC, Colonial Gas
At Massachusetts’ Eastern Enterprises, “consolidation” is theword of the day, and of the days to come. Fresh from itsacquisition of Essex County Gas, the Boston Gas parent Monday saidit will buy nearby Colonial Gas Co. at a 27% premium to Colonial’sFriday closing price.
October 20, 1998
Bulls Enthusiasm Muted by Friday’s Retracement
The futures market gave back a portion of recent gains on Fridayas traders covered fresh long positions ahead of the weekend. TheOctober contract was dealt the largest losses, slipping 8 cents tosettle at $1.878. November, which has been tracking nearly pennyfor penny with October was somewhat immune to the decline, losingonly 4.6 cents to $2.161.
September 14, 1998
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