SIOUX FALLS, S.D., Oct. 3 /PRNewswire-FirstCall/ -- NorthWestern Corporation d/b/a NorthWestern Energy today announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") with respect to its merger with Babcock & Brown Infrastructure Limited ("BBI").
Under the terms of the merger agreement, the shareholders of NorthWestern will be entitled to receive $37.00 per share in cash. The transaction with BBI is expected to be completed in mid-2007, subject to the satisfaction or waiver of closing conditions.
About NorthWestern Energy
NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving more than 628,500 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at http://www.northwesternenergy.com/ .
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." These statements are based upon our current expectations and speak only as of the date hereof. Our actual future business and financial performance may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to:
-- the effect of the definitive agreement to sell NorthWestern to Babcock
& Brown Infrastructure Limited (BBI), including the consummation of the
transaction or the termination of the definitive agreement due to a
number of factors, including the failure to obtain regulatory approvals
or to satisfy other customary closing conditions;
-- our ability to avoid or mitigate adverse rulings or judgments against
us in our pending litigation;
-- unanticipated changes in availability of trade credit, usage, commodity
prices, fuel supply costs or availability due to higher demand,
shortages, weather conditions, transportation problems or other
developments, may reduce revenues or may increase operating costs, each
of which would adversely affect our liquidity;
-- unscheduled generation outages or forced reductions in output,
maintenance or repairs which may reduce revenues and increase cost of
sales or may require additional capital expenditures or other increased
operating costs;
-- adverse changes in general economic and competitive conditions in our
service territories; and
-- potential additional adverse federal, state, or local legislation or
regulation or adverse determinations by regulators could have a
material adverse effect on our liquidity, results of operations and
financial condition.
Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or publicly update any forward-looking statements for any reason.
