Message-ID: <3331068.1075851591212.JavaMail.evans@thyme> Date: Fri, 24 Aug 2001 10:14:22 -0700 (PDT) From: vjw@cleanpower.org To: jeff.dasovich@enron.com Subject: Seattle Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: V. John White X-To: Dasovich, Jeff X-cc: X-bcc: X-Folder: \Dasovich, Jeff (Non-Privileged)\Dasovich, Jeff\Deleted Items X-Origin: DASOVICH-J X-FileName: Dasovich, Jeff (Non-Privileged).pst ----- Original Message ----- From: "Bill Marcus" To: "Mike Florio (E-mail)" ; "Matt Freedman (E-mail)" ; "Bob Finkelstein (E-mail)" ; ; ; ; "Michael Shames (E-mail)" ; "Jim Lazar (E-mail)" ; "Cynthia Mitchell (E-mail)" ; "Jan Hamrin (E-mail)" ; "Bob Weisenmiller (E-mail)" ; "Sara Myers (E-mail)" ; "V. John White (E-mail)" ; "Lenny Goldberg (E-mail)" Sent: Friday, August 24, 2001 10:02 AM > Private company may bid for Edison Report: Denver-based City Light & Power > mulls offer > > By Myra P. Saefong , CBS.MarketWatch.com > Last Update: 12:20 PM ET Aug. 24, 2001 > NEW YORK (CBS.MW) - A privately owned company that operates and maintains > the street lights in Long beach, Calif. plans to make a bid for Edison > International, according to a report published Friday. > City Light & Power could announce its intentions to bid for Edison, parent > of cash-strapped utility Southern California Edison as early as Monday, Dow > Jones reported, citing City Light & Power executives. > Bear Stearns and Salomon Smith Barney, which are advising the company, have > valued Edison at $5.6 billion, or $17.18 a share, the report said. > City Light plans to bid for the entire company but could sell of some of the > assets later, Dow said. > Edison's Southern California Edison unit has been brought to the brink of > bankruptcy because it has more than $3 billion in unpaid debts. It's been > unable to recover the costs of buying power on the spot wholesale market > because state law prevents it from raising its retail rates. > Brian Bennett, SoCalEd's vice president of external affairs said Friday that > "by policy, the company does not comment on takeover rumors." > A call to a representative handling public relations for City Light & Power > wasn't immediately returned. > Shares of Edison climbed 22 cents to $14.40 in recent action. > >