NEW YORK – KeySpan Corp. confirmed Friday that it is in discussions with various parties regarding a potential merger.
The company said there can be no assurance that any transaction will occur, or, if one is undertaken, its terms or timing. KeySpan also stated that it does not expect to disclose developments with respect to discussions unless and until its board of directors has approved a definitive transaction or terminated discussions.
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A member of Standard & Poor’s 500 Index, KeySpan is the largest distributor of natural gas in the Northeast with 2.6 million customers, operating regulated natural gas utilities in New York, Massachusetts and New Hampshire which do business as KeySpan Energy Delivery.
“We have been pursuing a strategy that is working well to serve our customers and deliver shareholder value, and we are well-positioned to continue doing so as an independent company,” said Robert B. Catell, KeySpan chief executive officer. “However, as our industry has evolved, we believe it is appropriate to explore all alternatives that may be in the best interests of all our stakeholders.”
KeySpan has headquarters in Brooklyn, Boston and Long Island.
