Maine & Maritimes denies rumors it's for sale
Maine & Maritimes Corp. is attempting to dispel rumors that it's for sale.
The Presque Isle-based company, which owns Maine Public Service, the utility company that serves roughly 36,000 electricity customers in Northern Maine, sent out a press release today to let people know the company is not for sale. The rumors began after Maine & Maritimes hired KeyBanc Capital Markets Inc. as its financial advisor to assist in exploring and evaluating strategic alternatives, according to the company.
"The company has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that this process will result in any specific transaction or other strategic alternative," the press release states. "The company does not intend to comment further on this process unless and until its Board of Directors has approved a specific transaction or other strategic alternative."
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