Merger Agreement and Shareholder Class Action

In early 2010, Emera, Inc. announced its intention to acquire Maine Public Service Company, a Maine transmission and distribution utility. The firm actively participated in drafting the Merger Agreement, securing regulatory approval from the Maine PUC and defending Emera in dismissing a shareholder class action in U.S. District Court. The acquisition successfully closed in December 2010. The total value of the transaction was approximately $110 million.

The negotiation of the Merger Agreement included input and assistance from Bill Harwood on MPUC regulatory issues. The MPUC proceeding was successfully handled by Bill Harwood and Nora Healy. It involved extensive discovery, filing of testimony, technical conferences before the administrative law judge and complex settlement negotiations.