Hawaiian Electric Says Currently Not In Merger Talks With Any Other Party

(RTTNews) - Responding to media reports, Hawaiian Electric Industries Inc. (HE) said Tuesday that it is not currently in discussions with any other party regarding a business combination and does not intend to initiate any such discussions.

"In accordance with its fiduciary duties, the boards have determined that it is in the best interests of the company and all of the stakeholders that it serves - including shareholders, customers, employees and communities - to remain independent and to work toward realizing the clean energy future and vibrant local economy we all want for Hawaii. In this regard, and despite statements reported in the media about other unnamed parties rumored to be interested in acquiring HEI, the company is not currently in discussions with any other party regarding a business combination and does not intend to initiate any such discussions," Hawaiian Electric said.

On Monday, Clean energy company NextEra Energy, Inc. (NEE) and Hawaiian Electric Industries announced the termination of their plans to merge, effective immediately.

The decision was driven by the Hawaii Public Utilities Commission's or PUC order to dismiss the companies' merger application.