ProvEnergy Approves Southern Union Merger
Rhode Island's Providence Energy Corp. shareholders voted
overwhelmingly last week to approve a proposed merger with Austin's
Southern Union Co. First announced last November, the proposed
merger is on track for regulatory approval by late this summer.
ProvEnergy shareholders would be paid $42.50 per share with the
Southern Union received approval from Pennsylvania regulators
two weeks ago concerning its pending mergers with ProvEnergy and
two other Northeast utilities, Massachusetts' Fall River Gas and
Rhode Island's Valley Resources. Other governmental reviews are
pending Once completed, the growing utility would serve nearly 1.6
million gas and electric customers in six states.
Carolyn Davis, Houston
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