Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

Additional information
Additional Information
Market: TSX
Sector: Utilities
Epic: EMA
News: Latest news
Web Site: Emera Inc
Other Articles: 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive AU ▼

Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

FULL ARTICLE ► 
Warning (2): curl_setopt() [function.curl-setopt]: CURLOPT_FOLLOWLOCATION cannot be activated when in safe_mode or an open_basedir is set [APP/models/web_model.php, line 120]

RSS - Subscribe to the News Today on Proactive CN ▼

Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

FULL ARTICLE ►
Emera Inc

Emera Inc

Energy is the essence of Emera Inc. Our core business is electricity; generating power and getting it to our customers safely and reliably. With strategic energy services and infrastructure that includes electric utilities in the Northeastern US, Atlantic Canada, St. Lucia and Grand Bahama, a pumped storage hydro-electric facility, natural gas pipelines, a gas-fired power plant, an energy services company and a renewable tidal energy company, Emera has a diversified portfolio with $5.3 billion in assets.

Friday, March 12, 2010

Emera to buy Maine & Maritimes Corp for US$45 per share

company news image

Emera Inc (TSX: EMA) has agreed a merger with Maine & Maritimes Corporation (AMEX: MAM). The cash deal sees Emera purchase all the outstanding MAM shares for US$45.00 per share, representing over a 40% premium based from MAM's closing price on March 11 2010.

"This transaction will be very advantageous for our shareholders and electricity customers. Becoming part of Emera strengthens our company financially and enables us to improve reliability and delivery service by working together with Bangor Hydro Electric Co to meet the needs of northern and central Maine customers", MAM President and CEO Brent M Boyles stated.

MAM is the parent company of the regulated electric group, the Maine Public Service Company. The transaction, which is expected to close later this year, has been approved by the MAM board and it is subject to approval by MAM's shareholders, the Maine Public Utilities Commission, and the Federal Energy Regulatory Commission. Regulatory approvals are estimated to take 6-8 months.

Emera said that upon completion of the merger there are no immediate plans to reduce staffing levels as the company contemplates that both MPS and Bangor Hydro will continue to operate separately and serve their customers in their respective service territories. The acquisition will be Emera's second investment in Maine, following its acquisition of Bangor Hydro Electric Co in October 2001. Emera intends to initially finance the transaction from existing credit facilities until long-term financing is arranged. The transaction is expected to be accretive to Emera within the first year.

"Maine plays an important role in the Maritime and New England energy market. This merger is an important next step in Emera's strategy of growth and integration within the Northeast market, by geographically expanding our service territory in Maine to the New Brunswick market", Emera President and CEO Chris Huskilson added.

AddThis Feed Button
Register here to be notified of future Emera Inc articles.

Investors interested in Emera Inc recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.