During the first phase of the process, we heard that local control was important to the community and City Council.
Control could mean owning the majority of shares in the company. In a merger with multiple partners, control could also mean no party owns more than 50 percent of the company.
We’re using community-supported decision-making criteria to assess potential merger partners. We’re also considering each company’s share of ownership, shareholder arrangements, governance, and core values.
Ultimately, a shareholder’s agreement would establish the rights and obligations of each partner, and explain how decisions are made.