Business Services Industry
Oregon-Based Utility's Stockholders Approve Merger with Scottish Power.
Knight Ridder/Tribune Business News, June, 1999 by Carricaburu, Lisa ^Boulton, Guy
Knight Ridder/Tribune Business News
Jun. 18 -- Pacificorp announced at its annual meeting Thursday that its stockholders had approved the company's proposed merger with Scottish Power in a deal valued at about $10.8 billion in stock and debt.
More than 300 people, most of them retirees, attended the two-hour meeting at the Salt Lake Hilton. And many of them were clearly angry about Pacificorp's dismal performance throughout much of this decade.
"Since Pacificorp has been formed, it's kind of specialized in losing money," said Thomas Breitling, referring to the company's merger with the former Utah Power & Light Co. "Is this another loser you are presenting us with?"
The question brought applause from the audience.
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