Consortium Finalizes $7.4B Purchase Of Puget Energy

Law360, New York (February 9, 2009, 12:00 AM EST) -- A private group of Australian and Canadian investors has completed its $7.4 billion acquisition of Puget Energy Inc., Washington state's largest electric and natural gas utility, less than two months after receiving final approval for the merger from state energy regulators.

Puget Holdings LLC said Friday that it had bought all of the utility's outstanding common shares at $30 a piece, with the firm set to be delisted from the New York Stock Exchange before trading began Monday.

William S. Ayer, chairman and CEO of Alaska...
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