It was announced Friday November 12th, 2010 that the city has signed a definitive merger agreement to acquire all the outstanding shares of Pennichuck Corporation (Nasdaq: PNNW) for a price of $29 per share, or approximately $138 million in cash. Under the proposed acquisition, the city will acquire control of all of the company assets, liabilities and businesses, including the land comprising the watershed of the Pennichuck Brook and the three regulated water utilities owned by the company.
Bond Rating News On Pennichuck Sale
Read the Fitch Press Release for Nashua GO Bonds and the Nashua NH Moodys report.
Important Notice regarding Excel version of Pennichuck Model - The Excel version of the model prepared by our consultant, C.W. Downer, demonstrates the revenue requirement necessary to fund the Pennichuck transaction. It redacts Pennichuck’s material confidential information, but retains our advisor's analysis. However, please note the caution from our advisers at C.W. Downer that the model is a complicated analysis which does not necessarily yield meaningful or useful results if elements are changed without a careful analysis and understanding of their effect.