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Florida-based energy firm proposes merger

On Behalf of | Jul 30, 2014 | Business Formation & Planning

When someone meets with business partners to discuss a merger, they may look at the pros and cons of the move and how it could impact the company. Acquiring a new business may present some challenges, but successful mergers and acquisitions can be very profitable and lead to significant growth. In Fort Lauderdale, Florida, companies that are considering mergers should make sure to take the right approach, whether they are focusing on a small business merger, a publicly traded merger or any other type of merger. With solid planning and clearly identified business goals, companies can prevent certain costly mistakes from wreaking havoc.

An energy firm centered in Florida recently sent a letter to a Texas-based transmission company proposing a merger. However, other groups have also been trying to gain control of the transmission company, which has been going through bankruptcy in federal court.

While it is not known how much the energy firm offered in their proposal, it will exceed a $500 million proposal they previously made. However, the Florida company is fighting for the takeover in an apparent bidding battle and their competition appears to be intent on acquiring the transmission company. Before any deal takes effect, the Texas Public Utility Commission would need to approve it first.

There are a number of legal issues that companies may have to deal with when it comes to mergers and acquisitions, from complex business transactions to a hostile acquisition. As a result, companies should prepare for any potential legal hurdles and address them properly if they arise. While business laws can be complicated, an experienced attorney could help people in this position.

Source: Dallas Morning News, “Florida power company NextEra outbids itself in fight for Oncor,” James Osborne, July 17, 2014