New Century Energies and Northern States Power to merge in $11 billion deal

From: Weekly Corporate Growth Report | Date: March 29, 1999| Author: | Copyright information

The Deal: New Century Energies and Northern States

Power Company have agreed to merge in an $11 billion deal that will create an electric and natural gas distribution company stretching from Mexico to Canada. Holders of New Century Energies stock will receive 1.55 shares of the merged company stock for each share held and each share of Northern States Power stock will continue as one share of the combined company. Based on the closing price at the announcement of $38.69 and $27.25, respectively, the stock transaction would have a value of over $11 billion. The merger is expected to be a ...

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