Sunday, February 15, 2009
In 2007 Australian conglomerate Babcock and Brown wanted to buy the main supplier of power to Montana, Northwestern Energy. Eventually, the Montana Public Service commission prevented the deal, basically on the grounds that they couldn't imagine BBI doing anything other than squeezing capital out of NWE hurting consumers. Recently, BBI has been forced to sell off all its assets to pay off its debts. Its market capitalization fell from many billions to effectively zero.