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Statement by Richard M. Kessel, LIPA Chairman

Yesterday, KeySpan announced that it has entered into an agreement with National Grid under which KeySpan has agreed to be acquired for approximately $7.3 billion. LIPA has been closely monitoring the KeySpan situation ever since February 17th, when following media reports, KeySpan disclosed that it was talking with potential purchasers of the company.

KeySpan

KeySpan

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Related Media

Media February 28, 2006 Release

LIPA Chairman Richard Kessel says that as the agreement between National Grid and KeySpan goes forward many questions need to be answered.

After the press conference, LIPA Chairman Richard Kessel takes several questions from reporters.