FEBRUARY 2004: Pennichuck files a lawsuit in Hillsborough County Superior Court seeking to "end the limbo" between the company and City Hall. The suit asks the court to give a time frame for when Nashua should file for eminent domain proceedings with the state Public Utilities Commission.
This is a time line of the city of Nashua's effort to acquire Pennichuck Water Works:
JULY 2004: The PUC opens a hearing on Nashua's proposed takeover of Pennichuck.
FEBRUARY 2003: Pennichuck and Philadelphia Suburban call off their merger by mutual agreement. The companies say the citywide referendum vote is the deciding factor in their move.
it will be acquired by Philadelphia Suburban Corp. for about $106 million in a stock for stock transaction. The idea of an out of state firm owning the water system of the city and surrounding communities draws a groundswell of critics.
NOVEMBER 2002: The city funded study questions Pennichuck's handling of the community's drinking water, and Mayor Bernie Streeter says the city should acquire the water utility, which would eventually be owned by a proposed regional water district. Aldermen vote 14 1 to put the question of the city acquiring Pennichuck to voters in a special election scheduled for Jan. 14, 2003. Bedford becomes the first town to vote to become a member of the proposed water district.
DECEMBER 2004: Lynn rules against Pennichuck in its suit seeking financial damages from the city, reiterating that the issues raised by the company should be handled in front of the PUC. Less than a week later, the PUC rules that the city can't acquire Pennichuck Corp. subsidiaries that are outside city borders. That leaves Pennichuck Water Works on the table, but prevents the city from pursuing the property of Pennichuck East Utility and Pittsfield Aqueduct Co.
Jan. 16 for 120 days at the request of both sides so they could try to negotiate a sales purchase agreement.
NOVEMBER 2003: City officials announce they have an offer on the table of $121 million, which they say is equal to the Philadelphia Suburban deal because it includes $15 million to cover the company's tax liabilities.
SEPTEMBER 2004: Hillsborough County Superior Court Judge Robert Lynn dismisses Pennichuck's challenge to the constitutionality of the eminent domain law, and rules that the PUC is the proper forum to decide the case.
APRIL 2004: Pennichuck sues the city for more than $5 million in Hillsborough County Superior Court, charging City Hall abused its power and deprived the company of its civil rights to conduct business freely. After two years of debate, a regional committee approves a final version of a charter to establish a regional water district.
MARCH 2004: Fourteen months after residents gave the go ahead, city officials submit a petition to the PUC to take over Pennichuck's regulated water systems.
DECEMBER 2003: Pennichuck's board of directors unanimously votes to reject the city's buyout offer.
APRIL 2006: The staff of the PUC issues a 70 page report saying it wasn't in the public's interest for the city of Nashua to take over Pennichuck Water Works. City officials remain undeterred in their takeover attempts.
AUGUST 2003: Don Correll, a 25 year water industry veteran, becomes Pennichuck Corp.'s president and chief executive officer. He replaces longtime CEO Maurice Arel.
AUGUST 2008: Pennichuck and the city both appeal the decision. Pennichuck wants the PUC to reverse it entirely, while Nashua claims the purchase price is too high.
JULY 25, 2008: In a 120 page decision, the PUC rules in favor of Nashua and fixes the price at $203 million, plus a $40 million fee for damage to Pennichuck Corp.'s other subsidiaries.
City tried to buy controversial Pennichuck land in 2003
OCTOBER 2008: Pennichuck shareholders begin pushing for a stock sale as a resolution to eminent domain, and the city seems warm to the idea.
NOVEMBER 2005: Three of the four candidates who oppose the Pennichuck takeover are elected to the Nashua Board of Aldermen after the company mounts an aggressive ad campaign to support them. A week later, the Supreme Court sides with Nashua and upholds the constitutionality of the eminent domain law.
MARCH 2009: Both appeals are denied. The city and Pennichuck announce they will pursue the case in New Hampshire Supreme Court.
AUGUST 2006: Duane Montopoli is named president and CEO of Pennichuck Corp., replacing Correll. Montopoli remains confident the city will fail in its takeover attempts.
JANUARY 2003: By a count of 6,525 1,867, Nashua Omega Speedmaster On Leather
MARCH 2006: Correll, Pennichuck Corp. president and chief executive officer, announces he is leaving to take a similar job in New Jersey at American Water. Hannah McCarthy, Pennichuck board member, is announced as interim CEO.
NOVEMBER 2006: City officials decide to send their lawyers to a settlement negotiation at the PUC with a new offer to take over Pennichuck. The decision is made after three hours of non public discussion. Pennichuck officials remained skeptical that any offer by the city would ever lead to a successful takeover.
APRIL 2002: Pennichuck Corp. announces Omega Speedmaster 41mm
JUNE 2003: The Legislature approves enabling Nashua and surrounding towns to form a regional water district.
JANUARY 2007: After starting hearings at the PUC the Omega Seamaster 300m Mid Size previous week, the commission suspends hearings Omega Speedmaster Reduced Review
SEPTEMBER 2005: Lawyers for Pennichuck and the city present oral arguments before the state Supreme Court on the constitutionality of the state law that would allow the city to seize the utility.
voters give the city the go ahead to pursue buying the water company. A bill that would allow a regional water district to be created is introduced in the state Legislature.
JULY 16, 2007: The city announces it was unable to come to a settlement with the water utility and has terminated talks, sending the case back to the PUC.
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