CalEnergy to pay $2.5B for Midwest utility
Article Abstract:
CalEnergy of Omaha, NE, is acquiring MidAmerican Energy of Des Moines, IA, for $2.5 billion in cash. The purchase of MidAmerican provides CalEnergy, which generates electricity and sells it wholesale to utility customers, entry into retail power distribution in anticipation of the deregulation of the electric industry. MidAmerican has 648,000 electric customers and 619,000 natural gas customers in Iowa, Illinois, SOuth Dakota and Nebraska. The agreement has been approved by the boards of both companies. Earlier in August 1997, CalEnergy CEO David Sokol failed in a $1.9-billion bid to takeover of New York State Electric & Gas.
Comment:
Is acquiring MidAmerican Energy of Des Moines, IA, for $2.5 billion in cash
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
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Tellabs to pay $4.7B for Ciena
Article Abstract:
Tellabs, based in Lisle, IL, will buy rival telecommunications-equipment maker Ciena of Linthicum, MD, in a stock deal worth $4.7 billion. The boards of both companies gave their approval on the renegotiated transaction. Under the terms of the new deal, Tellabs will exchange 0.8 shares for each outstanding Ciena share. A leading manufacturer of network equipment for phone and data services will be created as a result of the acquisition. The firms reworked their original 1-for-1 stock swap valued at $6.9 billion after Ciena failed to bag a lucrative contract from AT&T.
Comment:
Will buy rival telecommunications-equipment maker Ciena of Linthicum, MD, in a stock deal worth $4.7 bil
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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