It has been announced that the PSD merger will not close by the end of year. The merger agreement requires closing the deal 15 business days after all requirements have been met, including approval by the Utilities and Transportation Commission. Today being the 12th and not expecting an announcement this week, we run out of days in December for it to work out. A New Question Regarding The Merger On hearing the news, a slight concern related to financing came to my mind. What happens to the capital if the financing condition is based on a closure date of 2008. Would the money still be available in 2009?
Continue reading...Saturday, November 29, 2008
Lately the price of PSD has dropped as much as 10%. If this was a regular market, that could mean something, but we are not in a regular market - it's still driven by fear and emotions. The status of the merger has not changed one bit from my last post. There have been no new publicly announced press releases, but some interesting filings with the Washington Utility and Transportation Commission (WUTC) may be of interest. Recall that I wrote about how the final reply briefs had to be submitted by October 23,2008. Well, there were plenty of submissions and responses. I'll provide a brief look at what's been going on.
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Friday, December 12, 2008
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