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

Carlyle Group Rejects Offer for Mountain Water Co.

Posted: Updated:
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.

  • Most Popular

  • Most Popular StoriesMost Popular StoriesMore>>

  • Missing Oregon Woman May be in Washington's San Juan Islands

    Missing Oregon Woman May be in Washington's San Juan Islands

    Friday, August 1 2014 2:47 PM EDT2014-08-01 18:47:27 GMT
    (AP) A Dundee, Oregon, woman who has been missing more than a week may be in Washington's San Juan Islands.
    (AP) A Dundee, Oregon, woman who has been missing more than a week may be in Washington's San Juan Islands.
  • BMX Racing Growing in Bozeman

    BMX Racing Growing in Bozeman

    Thursday, July 31 2014 11:36 PM EDT2014-08-01 03:36:03 GMT
    Often times, families are trying to think of new ways to spend time together.We introduce you to one family who has found a fun, definitely exciting, and a bit daring way to spend time with one another.
    Often times, families are trying to think of new ways to spend time together.We introduce you to one family who has found a fun, definitely exciting, and a bit daring way to spend time with one another.
  • 44 Riverside homes destroyed or damaged in storm

    44 Riverside homes destroyed or damaged in storm

    Thursday, July 24 2014 3:46 PM EDT2014-07-24 19:46:53 GMT
    RIVERSIDE, Wash. - Many families were still at the Red Cross Shelter set up at Riverside High School in Riverside this morning.An afternoon storm destroyed or damaged 44 of their homes and knocked down close to 100 trees in Riverside Village Mobile Home Park.Many residents said the storm looked like a tornado as it swept through their neighborhood.
    RIVERSIDE, Wash. - Many families were still at the Red Cross Shelter set up at Riverside High School in Riverside this morning.An afternoon storm destroyed or damaged 44 of their homes and knocked down close to 100 trees in Riverside Village Mobile Home Park.Many residents said the storm looked like a tornado as it swept through their neighborhood.
  • Bozeman Mayor Responds to Public Meeting's Abrupt End

    Bozeman Mayor Responds to Public Meeting's Abrupt End

    Friday, August 1 2014 12:31 AM EDT2014-08-01 04:31:42 GMT
    A public meeting in Bozeman Wednesday night, updating residents on efforts to mitigate violate organic compounds near the Story Mill Road landfill, ended abruptly after one man began shouting at the Mayor.
    A public meeting in Bozeman Wednesday night, updating residents on efforts to mitigate violate organic compounds near the Story Mill Road landfill, ended abruptly after one man began shouting at the Mayor.
  • Many Frustrated By Stalled Cobell Settlements

    Many Frustrated By Stalled Cobell Settlements

    Wednesday, July 16 2014 9:30 PM EDT2014-07-17 01:30:30 GMT
    In Congress Wednesday, the group in charge of doling out Cobell settlement claims says it's waiting on setting exact amounts and a judge's okay before making the rest of the payments.
    In Congress Wednesday, the group in charge of doling out Cobell settlement claims says it's waiting on setting exact amounts and a judge's okay before making the rest of the payments.
  • Ranch At Rock Creek Makes National List

    Ranch At Rock Creek Makes National List

    Friday, August 1 2014 5:01 PM EDT2014-08-01 21:01:32 GMT
    A luxury ranch right here in Montana is ranked as the most expensive resort in the nation.
    A luxury ranch right here in Montana is ranked as the most expensive resort in the nation.
  • Update: Semi Removed, Lanes Reopen After Chemical Spill Near Bonner

    Update: Semi Removed, Lanes Reopen After Chemical Spill Near Bonner

    Wednesday, July 23 2014 3:22 PM EDT2014-07-23 19:22:36 GMT
    Emergency officials, including health department personnel, are on scene of a semi rollover east of Missoula.
    Emergency officials, including health department personnel, are on scene of a semi rollover east of Missoula.
  • MHP Increases Patrols For Testicle Festival

    MHP Increases Patrols For Testicle Festival

    Thursday, July 31 2014 6:41 PM EDT2014-07-31 22:41:38 GMT
    The 33rd annual Testicle Festival is underway, and officers are bringing in the reinforcements to prevent DUI's.
    The 33rd annual Testicle Festival is underway, and officers are bringing in the reinforcements to prevent DUI's.
Powered by WorldNow

Features

  • More Features
  • Powered by WorldNow
    All content © Copyright 2000 - 2014 WorldNow and Cowles Montana Media. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.