Thursday, April 11, 2013

Kentucky-American says it won't be ready to make a purchase offer, so Tuesday night meeting is canceled

Kentucky-American Water Co. says it won't be ready to make an offer for Midway's water and/or sewer systems at the town meeting called for that purpose Tuesday evening, April 16. UPDATE, April 13: Mayor Tom Bozarth says the meeting has been canceled.

"The company remains interested in expanding its relationship with Midway through such an acquisition if it makes sense for both parties," Kentucky-American said in a news release today. "The company’s team is working diligently to expedite the due diligence process as quickly -- but also as thoroughly and accurately -- as possible. Such a process requires extensive data gathering and analysis."

The release said the company "looks forward to presenting its proposal to the mayor, Water [and Sewer] Task Force Members and citizens in the near future. It regrets that its work will not be complete by the originally scheduled April 16 meeting."

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