Monterey Peninsula Water Management District moves forward with an attempted public buyout of private water utility Cal Am.
The Monterey Peninsula Water Management District … announced it has finalized its appraisal of Cal Am, the private utility water provider for the Monterey Peninsula, to buy it out in what could be a friendly—but likely hostile—attempted takeover. It will most certainly end up in court—Cal Am has repeatedly said it’s not for sale—but this is nonetheless a long-awaited moment. On Monday April 3, at 5:30pm in the Monterey City Hall council chambers, the district will host a public presentation outlining the methodology its consultants used in the appraisal, followed by a Q&A. But regardless, the die will have already been cast: the district’s statement notes that while the presentation is occurring, “it is expected that an offer to purchase the system will be made to Cal Am on or about the same time.”