Business Services Industry

Suitor May Quit Deal If Nashua, N.H., Water-Utility Takeover Bid Gets Approval.

Knight Ridder/Tribune Business News, January, 2003

By Brad Leighton, The Telegraph, Nashua, N.H. Knight Ridder/Tribune Business News

Jan. 14--NASHUA, N.H.-Philadelphia Suburban Corp. might back out of its acquisition agreement with Pennichuck Corp. if voters today authorize the city to proceed with its bid to acquire the utility, according to a company filing Monday with the U.S. Securities and Exchange Commission.

That possibility was raised in a revised proxy statement that was filed less than 24 hours before city voters go to the polls to decide whether city officials should pursue acquisition of the 150-year-old utility.

The 152-page document, which contains changes to the original Nov. 27 proxy statement, is intended to provide Pennichuck shareholders with information prior to...

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