Transactions
Jun. 18, 2002
ELECTRONIC COMPANIES CLOSE MERGER FOR $290 MILLION
On May 1, Trans-Elect Inc. acquired Michigan Electric Transmission Co. Trans-Elect paid $290 million for the energy company. Washington, D.C.'s Trans-Elect claims to be the first and only true independent electric transmission company in North America. It has 12,600 miles of transmission lines.
Washington, D.C.'s Trans-Elect claims to be the first and only true independent electric transmission company in North America. It has 12,600 miles of transmission lines.
Michigan Electric Transmission of Jackson, Mich., is an electric company with more than 5,400 miles of electric transmission lines serving customers in the lower peninsula of Michigan and 80 substations.
Alan Statman, managing shareholder of Washington, D.C.'s Wright & Talisman and general counsel to Trans-Elect, led the deal team. Partner Douglas Waikart and associate David Berman assisted on regulatory issues.
San Francisco based Pillsbury Winthrop provided additional outside counsel to Trans-Elect. Partners Barton Ford in New York and Joseph Campisi in San Francisco led the deal team. Partners David Falck, David Early-Hubelbank and Peter Hunt assisted from New York. New York associates David Baxter, Joseph Downs and Harsha Reddy pitched in.
Robert Schrosbree and David Broth handled the deal in-house for Michigan Electric Transmission.
Stefanie Knapp
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