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Enron Mail |
As outlined below, we will not bid on Pedricktown and have therefore cancelled the "formal" site visit. -----Original Message----- From: Heintzelman, Pete Sent: Friday, November 02, 2001 2:26 PM To: Heintzelman, Pete; Newlin, Ross; Dobler, Mark; Whitaker, Rick; Clifford, Douglas; Stevens, Don Cc: Zisman, Stuart; Miller, Don (Asset Mktg); Tricoli, Carl; Davis, Mark Dana Subject: RE: CANCEL Pedricktown visit Guys- Rick Whitaker and I will probably still tour the plant so please do not put out any word that we may not bid. I will already be up there for the PJM conf. and Rick wants to scope out for future expansion so it is worthwhile. Pete -----Original Message----- From: Heintzelman, Pete Sent: Friday, November 02, 2001 1:53 PM To: Newlin, Ross; Dobler, Mark; Whitaker, Rick; Clifford, Douglas; Stevens, Don Subject: CANCEL Pedricktown visit Gentlemen, Based on our phase 2 valuation analysis and detailed discussion with Dana Davis, we do not feel we can get to the numbers which we are told are being offered by competitors. We are significantly short of the $45 to $55MM that the sellers indicated was shown in the first round. Thus, it would be imprudent to incur the costs of on-site due diligence required to complete the process. We still like the plant at the right price and if those other bids do not materialize we may reconsider if contacted by Arclight. Thank you for your help during this process. Best regards, Pete Peter J. Heintzelman Manager, Generation Investments Office 713-345-7024 Cell 713-553-4353
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