Cabot LNG, the energy division of the Boston-based industrialchemical manufacturer Cabot Corp., will be separated from theparent company with the issuance of a targeted stock as part ofslimming and trimming “value enhancement”initiatives announcedrecently.
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Lawsuit Seeks to Quash Wisconsin Utility Merger
WICOR Inc., parent of Wisconsin Gas, says it intends to”vigorously defend” itself against a shareholder class-actionlawsuit that seeks to put the brakes to the company’s proposedacquisition by Wisconsin Energy Corp.
Utilicorp Buys Stake in Electric Line Company
Adding to its long list of utility, marketing and transportationassets, Aquila Energy parent Utilicorp United entered into astrategic partnership with Quanta Services Wednesday for $400million. Utilicorp hopes to increase its profit potential in thederegulating electric and telecommunications markets by teamingwith the Houston-based Quanta, a provider of specialized servicesfor companies in those industries.
Indiana Firms Seek to Form State’s Largest Utility
Indiana Energy Inc., parent of Indiana Gas Co., and Sigcorp, theholding company for Southern Indiana Gas and Electric Co. (Sigeco),announced plans to merge and create a new $1.9 billion holdingcompany called Vectern Corp. The transaction was approved by theboards of directors of both companies Monday. If the regulators andthe companies’ shareholders give their nods to the deal, Vectrenwould become the largest combined utility in the state, serving650,000 gas and electric customers.
Unicom Plans Acquisitions After $5 Billion Power Plant Sale
Commonwealth Edison (ComEd) parent Unicom is planning a shoppingspree that could include one or several major gas or waterdistribution companies or a communications company, Unicom Chairmanand CEO John W. Rowe said this week at the company’s annualmeeting.
Texas-New Mexico Power in Leveraged Buyout
TNP Enterprises, the parent company of Texas-New Mexico PowerCo. (TNMP), was bought by a group of investors headed by WilliamCatacosinos, the former CEO of Long Island Lighting Co., for $1billion, including assumed debt, the parties announced last week.The deal, which TNP said was the first leveraged buyout of anelectric utility, is expected to close in six to nine months.
Unicom Plans Acquisitions after Plant Sale
Commonwealth Edison (ComEd) parent Unicom is planning a shoppingspree that could include one or several major gas or waterdistribution companies or a communications company, Unicom Chairmanand CEO John W. Rowe said this week at the company’s annualmeeting.
Investor Group Buys TNP Enterprises
TNP Enterprises, the parent company of Texas-New Mexico PowerCo. (TNMP), was bought by a group of investors headed by WilliamCatacosinos, the former CEO of Long Island Lighting Co., for $1billion, including assumed debt, the parties announced yesterday.The deal, which TNP said was the first leveraged buyout of anelectric utility, is expected to close in six to nine months.
DTE Goes Shopping for A Supplier, Likes MCN
DTE Energy, Detroit Edison’s parent company, said last week itis in the market to acquire a natural gas supplier. The company isin exploratory stages right now but hopes to have some kind ofagreement by the end of this year, a DTE official said at thecompany’s annual meeting.
DTE in the Market for an Acquisition
DTE Energy, Detroit Edison’s parent company, said this week itis in the market to acquire a natural gas supplier. The company isin exploratory stages right now but hopes to have some kind ofagreement by the end of this year, a DTE official said at thecompany’s annual meeting.