Verrill Dana LLP

Verrill Dana’s Energy Group represents energy developers, regulated utilities and other investors in all aspects of mergers and acquisitions. From purchase and sale agreements to regulatory approvals, our Energy Group provides all the services needed to take a merger or other acquisition from start to finish.

The following are significant examples of mergers and acquisitions matters handled by our Energy Group:

• Emera Ownership Of Generation - The Group has represented Emera in a lengthy case addressing the extent to which the Maine Restructuring Act prevents affiliates of Emera Maine, a Maine T&D utility, from owning generation facilities. In its original 2012 decision the PUC approved Emera Energy acquiring 25% ownership of Algonquin Power & Utilities Corp. (APUC), despite APUC’s ownership of several small generators in Northern Maine; and, also, approved Emera Energy entering in to a joint venture with First Wind to jointly develop new wind projects in the Northeast. The PUC reasoned that because Emera Maine did not have control over the affiliated generation, there was no violation of the Act. On appeal, the Court ruled that “control” was not the correct test and remanded the case back to the PUC for a determination as to whether either transaction created an incentive for Emera Maine to favor the affiliated generator in violation of the Restructuring Act. On remand, the PUC again approved both transactions under the court’s new test and again intervenors appealed the revised decision to the Court. A decision is expected shortly.
• Merger Agreement and Shareholder Class Action - When Emera Inc. acquired Maine Public Service Company in 2010, our Energy Group was actively involved in drafting the merger agreement and securing regulatory approval from the Maine PUC. Further, Verrill Dana defended Emera in a shareholder class action suit in U.S. District Court resulting from the proposed merger.
• Emera Maine: Maine PUC Approval of Merger - Verrill Dana successfully obtained Maine PUC approval for the 2014 merger of Maine Public Service Company and Bangor Hydro Electric Company into a single corporation, Emera Maine.
• Iberdrola: Acquisition of Energy East and Central Maine Power - In 2007, Verrill Dana served as local counsel to Iberdrola in its acquisition of Energy East and Central Maine Power Company.