Wired

Main Street AC Inc., based in San Diego, has wired funds to complete payment for all of the Aquila Inc. shares tendered electronically between Aug. 28 and Sept. 10. The total cash price paid was $5.45 per share net, but Main Street did not disclose how many of the company’s shares it was tendered. Tendering Aquila shareholders who directly received the Sept. 12 quarterly dividend, or who tendered their shares to Main Street ex-dividend were debited the $0.175 per share cash dividend already paid to them, if those funds were not otherwise forwarded to Main Street. As a result, their cash payment from Main Street was $5.27.5 per share. Other than offsets for cash payments made directly to holders, no other fees, commissions or other deductions are allowed under the Main Street offers. Main Street made a tender offer to acquire up to 4.9% of Aquila, Dynegy Inc., Reliant Resources Inc. and Mirant Corp. in late August, and has already announced payment for an unknown amount of Dynegy shares (see Daily GPI, Sept. 12; Sept. 4).