Mergers

FERC OKs Illinova-Dynegy, Conditions Dominion-CNG

FERC yesterday approved the mergers of Illinova Corp. and DynegyInc. and Dominion Resources Inc. and Consolidated Natural Gas(CNG). But it placed conditions on its blessing of the lattermerger transaction, citing competitive concerns.

November 11, 1999

Energy East Gets CTG Shareholder Approval

Marking a clean sweep through the shareholder votes of its threepotential mergers, Energy East announced yesterday that stockholders of CTG Resources had “overwhelmingly” approved the proposeddeal. Energy East said it expects the CTG merger to be finalized bythe end of the second quarter next year. The CTG shareholdersapproved the transaction yesterday at a special meeting inHartford, CT.

October 19, 1999

Merrill Lynch Eyes LDC Merger Targets

There have been 26 natural gas utility mergers announced since1995, with 15 of them coming in the past year and seven in themonth of June alone. And there are “many more” to come, accordingto a Merrill Lynch report released last week.

July 19, 1999

Merrill Lynch Eyes LDC Merger Targets

There have been 26 natural gas utility mergers announced since1995, with 15 of them occurring in the past year and seven in themonth of June alone. And there are “many more” to come, accordingto a Merrill Lynch report released last week.

July 19, 1999

Sempra-KN Merger is Dead as KN Earnings Plunge

In what one observer described as one of the first “blunders”among energy mergers, Sempra Energy and KN Energy last weekmutually agreed to call off their $6 billion marriage, which wasfirst announced in February.

June 28, 1999

Sempra-KNE Merger is Dead

In what one observer described as one of the first “blunders”among energy mergers, Sempra Energy and KN Energy said yesterdaythey have mutually agreed to call off their $6 billion marriage,which was first announced in February. The two companies said thatas they were studying the integration process they discovered thecombined company “would not be able to realize the businessobjectives they originally anticipated.”

June 22, 1999

Scarcity of Suitable Gas Partners Driving M&As

The pace of announced mergers and acquisitions (M&ampA) haspicked up steam in the last few weeks because electric utilitiesare realizing that the pool of potential natural gas targets isquickly dwindling, according to a Merrill Lynch &amp Co. report.

March 8, 1999

Texaco Joins Ranks of Producer Cost-Cutters

Texaco joined the growing crowd of producers revising downwardcapital expenditures for 1999. The company said its 1999 capexwould total $3.7 billion, including subsidiaries and affiliates,down $600 million from its original $4.3 billion plan. Chevron,Arco and Unocal announced similar reductions last month.

January 11, 1999

TU’s Bid for Energy Group Cleared

Texas Utilities’ Offer for The Energy Group will not be referredto the United Kingdom’s Monopolies and Mergers Commission. TheEnergy Group noted the waiver and said it will advise shareholdersas soon as possible on what they should do regarding the offersfrom PacifiCorp and Texas Utilities.

April 20, 1998
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