Entegrus Is Respectfully Disappointed
Chatham-Kent utility Entegrus won’t be completing a $12-million deal with Amherstburg for the town’s 14% stake in Essex Power.
Amherstburg Council rejected the offer in a 4-3 vote at a special meeting on Tuesday.
“We’re disappointed,” says Jim Hogan, the Entegrus CEO. “We put forward what we thought was a very generous offer for their shares, but we respect the council of Amherstburg.
“We anticipated it being a tough decision and we thought it was going to be a close decision,” says Hogan. “It’s a very personal or poltical decision and they decided that at this time, they’d like to keep their shares in Essex Power.”
Hogan adds the utility won’t be putting forward any other offers for a stake in Essex Power. Entegrus formally submitted its offer to Amherstburg Council in February.