BHE Holdings plans to buy Maine & Maritimes Corp., which owns Maine Public Service Co., the state's third-largest electric provider. The two utilities would retain their separate names and their rates would continue to be established separately. Maine & Maritimes Corp. trades on the “American Stock Exchange” under the stock symbol “MAM”. For the Latest information regarding “MAM”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Two of Maine's larger electric utilities, BHE Holdings Inc. and Maine & Maritimes Corp. would merge under an agreement announced Friday, creating a greater momentum for a north-south power transmission line for wind farms.
In a deal valued at about $108 million, BHE Holdings Inc., the parent company of the state's second-largest electric utility, Bangor Hydro Electric Co., plans to buy Maine & Maritimes Corp., which owns Maine Public Service Co., the state's third-largest electric provider. The two utilities would retain their separate names and their rates would continue to be established separately. And customers should not see any immediate changes after the merger, officials said.
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