The long running integration of NEES
and EUA dates back to last December when National Grid agreed the takeover of NEES
The Brussels event featured presentations by health authorities from across Europe, whose representatives provided updates on each country's NeeS
and eCTD requirements.
The price paid represents a 25 per cent premium to the closing price of $43 per NEES
share last week.
He has served as vice president and treasurer of NEES
, director of corporate finance for the NEES
service subsidiary, and treasurer and assistant treasurer of other NEES
Although the NEES
name has changed, the names of its local electric companies -- Massachusetts Electric Company, Granite State Electric Company (NH), Narragansett Electric Company (RI), and Nantucket Electric Company -- will remain the same.
Following the merger, NEES
will serve a total of 1.
The final sale price for the merger, and the final price of NEES
shares are expected to be approximately $3.
The Rhode Island Division of Public Utilities and Carriers approved the merger of the Rhode Island operating subsidiaries of NEES
and EUA on February 25.
The sharing of space is expected to continue after the purchase is finalized, with some EUA personnel remaining in West Bridgewater through the end of 2000 as EUA makes the transition into the NEES
If the SEC approves the proposed merger, at the time of closing all outstanding NEES
common shares will be cancelled and converted into the right to receive cash merger consideration.
According to NEES
President and Chief Executive Officer Rick Sergel, this announcement underscores NEES
's goal to focus on its electricity delivery business, and its commitment to AllEnergy's continued success.
(NYSE:NES) and National Grid filed for approval of their merger with the SEC in March 1999.