Missoula Mayor Kadas: Shareholder talks boost effort of Missoula Cities to buy NorthWestern Corp.

Meetings with owners of more than half the shares in NorthWestern Corp. buoyed a coalition of Montana cities trying to buy NorthWestern’s utility transmission and distribution systems in three states, the coalition said Wednesday.

"We are pleased to have had the opportunity to meet with so many of NorthWestern’s shareholders," said Mike Kadas, Missoula’s mayor and chairman of Montana Public Power Inc., the coalition of five cities. "They have been very supportive of our offer and we urge them to make their views known to the NorthWestern board" of directors.

Last week the board rejected Montana Public Power’s June 30 offer of about $1.17 billion for NorthWestern’s transmission and distribution networks in Montana, Nebraska and South Dakota. Assumption of $825 million in Northwestern debts and other financial obligations also was part of the proposal for the nonprofit Montana Public Power to take over NorthWestern’s electric and natural gas operations. The cities of Bozeman, Butte-Silver Bow, Great Falls, Helena and Missoula comprise the coalition.

By Susan Gallagher of the Associated Press

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