Pennichuck Corporation Announces Completion of Merger With the City of Nashua
January 25 2012 - 10:05AM
Marketwired
Pennichuck Corporation (NASDAQ: PNNW) today announced that the City
of Nashua, New Hampshire (the "City") completed its acquisition of
all of the outstanding voting securities of Pennichuck Corporation
(the "Company") in a merger transaction (the "Merger"). The Merger
was effective on January 25, 2012 at 8:31 a.m., Eastern Daylight
Time (the "Effective Time"). The Merger occurred pursuant to the
Agreement and Plan of Merger, dated as of November 11, 2010,
between the Company and the City.
As of the Effective Time, each share of the Company's common
stock was converted into a right to receive $29.00 in cash, without
interest.
Prior to the opening of trading on January 25, 2012, NASDAQ
suspended trading of Company common stock The Company's common
stock will be delisted from NASDAQ and deregistered under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
at which time the Company no longer will have any obligation to
file periodic reports under the Exchange Act.
Pennichuck Corporation is a holding company involved principally
in the supply and distribution of potable water in New Hampshire
through its three regulated water utilities. Its non-regulated,
water-related activities include operations and maintenance
contracts with municipalities and private entities in New Hampshire
and Massachusetts. The Company's real estate operations are
involved in the ownership, management and environmentally
responsible commercialization of real estate in southern New
Hampshire. The Company's website is at www.pennichuck.com.
For More Information, Contact: Thomas C. Leonard
Senior Vice President and Chief Financial Officer Phone:
603-913-2300 Fax: 603-913-2305
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