published Tuesday, May 6th, 2014

Business Briefs: Meetings scheduled to explain Tennessee American Water surcharge

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    Tennessee American Water President Deron Allen talks about service to customers from the board room at the private utility's Broad Street headquarters.
    Photo by Tim Barber.
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Meetings scheduled to explain Tennessee American Water surcharge

Tennessee American Water has scheduled customer forums Thursday night and Monday night to explain the utility’s new surcharge approved last month to pay for critical infrastructure spending.

The public sessions will allow customers to ask questions about the new billing system, which allows Tennessee American to automatically pass along costs for some investments made to maintain and improve Chattanooga’s water system. The meetings will be at 5:30 p.m. Thursday at the Eastgate branch of the Chattanooga Library and at 5:30 p.m. Monday at teh Downtown branch of the Chattanooga library.

“Tennessee American Water is taking a proactive approach in keeping the local water system strong and viable today and for generations to come,” company president Derron Allen said.

Allergan urged to start takeover

Two weeks after unveiling an audacious partnership with Valeant Pharmaceuticals to take over the maker of Botox, the hedge fund billionaire William A. Ackman is getting to work.

Ackman sent a letter to the board of Allergan on Monday, urging the company to begin acquisition talks with Valeant. And he warned Allergan not to try other alternatives, including a deal with another drugmaker, if they don’t generate as much value for shareholders.

Ackman’s move is the most significant since he unveiled a 9.7 percent stake in Allergan in late April.

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