„I look forward to seeing the newly consolidated company in this developing sector,” said Carl Chapman, past President of Vectren, President and CEO. „CenterPoint Energy has been the right partner for Vectren and I am confident that this merger will have a positive impact on all stakeholders. I thank the employees and shareholders who participated in the Vectren trip. CenterPoint Energy, Inc. and Vectren Corp. have entered into a definitive merger agreement with infrastructure and service companies Putting in place original content to download multimedia:www.prnewswire.com/news-releases/centerpoint-energy-and-vectren-complete-merger-30078450.html In accordance with the terms of the agreement, approved unanimously by centerPoint Energy`s and Vectren`s Boards of Directors, Vectren shareholders will receive $72 in cash for each Vectren share. CenterPoint Energy also supports all of Vectren`s net debts. HOUSTON and EVANSVILLE, Ind., February 1, 2019 /PRNewswire/ — CenterPoint Energy, Inc. (NYSE: CNP) and Vectren Corporation (NYSE: VVC) today announced the successful completion of their merger. The Houston-based centerPoint Energy combined has regulated natural gas and natural gas companies in eight states that serve more than 7 million customers and respect the presence of a competitive energy company in nearly 40 states. In accordance with the merger agreement announced on April 23, 2018, Vectren shareholders will receive $72.00 and a dividend of $0.41145 in cash for each share of Vectren`s common share held by Vectren`s common stock as of the closing date of February 1, 2019. In addition, Vectren`s common stock, previously traded under the symbol „VVC,” ceased trading and was withdrawn today by the NYSE. „This merger represents an important step toward our vision of leading the nation in providing energy, service and value,” said Scott Prochazka, President and CEO of CenterPoint Energy, in a statement announcing the agreement.
With the merger, CenterPoint Energy has approximately $29 billion in assets, $27 billion in enterprise value and approximately 14,000 employees. CenterPoint Energy`s activities include: „This merger represents an important step towards our vision of guiding the nation in providing energy, service and value. By combining our two highly complementary companies, we are creating a market leader in energy supply, infrastructure and services that increases the value of our shareholders and customers, while enhancing our business growth prospects,” said Scott M. Prochazka, President and Chief Executive Officer of CenterPoint Energy. „From changing customer expectations to the development of innovative technologies, this is a period of exceptional opportunity for our industry. As a combined company, we will continue to focus on a future that benefits our customers, employees, communities and shareholders. Despite the geographic scope of its markets, FERC found that the transaction would not cause market power problems within Midcontinent ISO (MISO) or the Electric Reliability Council of Texas (ERCOT).