Mesa Consolidated Drops Legal Action
Saying they were spending too much on legal fees, Mesa Consolidated Water District board members have decided to drop legal action fighting a merger between Santa Ana Heights Water Co. and Irvine Ranch Water District.
The directors, in an emergency meeting last week, said they would instead wait for the Local Agency Formation Commission to make a ruling on the merger. Both Irvine Ranch and Mesa Consolidated have asked LAFCO to decide the appropriate agency to take over Santa Ana Heights.
A hearing on the request is scheduled for Wednesday.
In January, Irvine Ranch offered to pay $1,100 a share to buy a majority stake in Santa Ana Heights.
Mesa Consolidated maintains it should take over Santa Ana Heights’ operations because the two companies have worked closely together.
Mesa Consolidated also has contended the merger is illegal because the Santa Ana Heights bylaws prevent the sale of shares given to landowners in the area.
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