FairPoint's proposed $2.7 billion acquisition of Verizon Communications assets in Maine, New Hampshire and Vermont won a key victory late Wednesday, as the negotiations with Maine public advocate staff, who had opposed the deal, resulted in a reversal and recommendation the acquisition be approved by the Maine Public Utilities Commission.
Details of the settlement reached as a result of the negotiations were not available as of this writing. The Maine public advocates had been asking for a reduction in the price of the deal, among other stipulations. The Maine PUC reportedly was scheduled to begin its consideration of the deal this morning. A decision could come as early as today, or possibly a week from today if further deliberation is required in the PUC's next scheduled meeting.
For more:
- read this report in The Portland (Maine) Press Herald
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- The proposed acquisition has garnered a lot of controversy