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VVC - Vectren News Story

$72.38 0.0  0.0%

Last Trade - 31/01/19

Sector
Utilities
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.06bn
Position in Universe th / 6371

BREAKINGVIEWS-Utility deal provides banquet for regulatory feast

Mon 23rd April, 2018 3:19pm
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Lauren Silva Laughlin DALLAS, April 23(Reuters Breakingviews) - CenterPoint Energy’s $6 bln swoop for Vectren gives state watchdogs a chance to extract their pound of flesh for customers. As with many electric company M&A, there’s no number given on synergies. That leaves investors wondering if they’ll receive any juice at all. Full view will be published shortly. On Twitter https://twitter.com/TheRealLSL CONTEXT NEWS - CenterPoint Energy is buying Vectren for some $6 billion, the two companies said on April 23. CenterPoint is also taking on all of Vectren’s outstanding debt. At $72 a share, CenterPoint is paying a premium of almost 10 percent to Vectren’s closing price on April 20. - Houston-based CenterPoint provides electricity to more than 2.4 million customers in the city. It also has natural-gas operations in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. - Vectren provides natural gas to more than 1 million customers in Indiana and Ohio and also supplies electricity to 145,000 customers in Indiana. - Goldman Sachs advised CenterPoint, while Bank of America Merrill Lynch advised Vectren. - For previous columns by the author, Reuters customers can click on SILVA/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ CenterPoint Energy to buy Vectren in $6 bln deal urn:newsml:reuters.com:*:nL3N1S04BZ CenterPoint press release http://investors.centerpointenergy.com/news-releases/news-release-details/centerpoint-energy-and-vectren-merge ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Antony Currie and Amanda Gomez) ((Lauren.SilvaLaughlin@thomsonreuters.com; Reuters Messaging: Lauren.SilvaLaughlin.thomsonreuters.com@reuters.net))
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