As I write this, I am on the phone with Public Service Commissioner Brad Molnar, who says the PSC just voted 5-0 to reject the sale of NorthWestern Energy to Babcock Brown. The next step, presumably, will be a request for the PSC to reconsider its decision. More later.
UPDATE: The AP's take is here.
UPDATE 2: We are working on a dead-tree version of this (tonight is deadline), but I was struck by one thing Molnar said: While Babcock Brown made a good case that it was a capable company, it never really made a case that this sale would be good for Montana ratepayers. "They never made that quantum leap," he said. I had my professional writing class at Rocky this spring examine some of the documents in the case -- op-eds, full-page ads, letters to the editor -- as examples of business communication, and they came to almost exactly the same question: Babcock made a good for itself but not for Montanans. Now Babcock has paid the price.