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ProvEnergy Approves Southern Union Merger

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 merger.

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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