BEC Energy and Commonwealth Energy System Agree to $4.4 Billion Combination.

PR Newswire | December 7, 1998 | Copyright

Merger Creates Premier Energy Delivery System in New England

BOSTON and CAMBRIDGE, Mass., Dec. 7 /PRNewswire/ -- BEC Energy (NYSE: BSE) and Commonwealth Energy System ("COM/Energy") (NYSE: CES) today announced that their boards of trustees have approved a definitive agreement providing for a merger in which the total consideration would be a combination of cash and stock in a newly-formed holding company. The combined company will have a total market capitalization of approximately $4.4 billion ($2.6 billion in equity; $1.7 billion in net debt; $0.1 billion in ...

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