Carlyle Group Rejects Offer for Mountain Water Co. - ABC FOX MONTANA NEWS, WEATHER, SPORTS - KTMF/KWYB

Carlyle Group Rejects Offer for Mountain Water Co.

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MISSOULA -

A global hedge fund that owns Missoula's water system rejected the city's $50M offer to buy Mountain Water Company.

The Carlyle Group dismissed the offer on Friday, saying that it was significantly below a previous offer which was also rejected.

Mayor John Engen has said the global hedge fund suggested that Mountain Water is worth more than $120M, but Engen said that price is not justified.

The mayor did add that the offer was rejected, the city would pursue legal action in District Court to determine a fair price to buy the private property for public use.

Missoula is the only major city in Montana that does not own its water system.

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