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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 / 6369

BUZZ-Vectren: Jumps on $6 bln deal with CenterPoint Energy

Mon 23rd April, 2018 4:21pm
(Updates)
    ** U.S. gas and electric utility's shares  VVC.N  rise as
much as 5.9 pct to hit over 4 month high of $69.40 and on pace
for their best day in 8 months
    ** Rival CenterPoint Energy  CNP.N  to buy company for about
$6 billion, or $72 per VVC shr, which represents ~10 pct premium
to stock's close on Friday  urn:newsml:reuters.com:*:nL3N1S04BZ
    ** "There's a perception out there ... that CenterPoint
overpaid for Vectren," Guggenheim analyst Shahriar Pourreza says
    ** CNP down 2.7 pct at $25.97, stock is the 3rd biggest pct
loser on the S&P 500 index  .SPX  and hits more than 1 year low
in session
    ** Up to Friday's close, VVC stock up ~12 pct vs. CPN's
decline of 4 pct in the past 12 months

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))
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