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United States : WISCONSIN ENERGY buys INTEGRYS ENERGY GROUP

June 24, 2014



Integrys Energy Group has been purchased by Wisconsin Energy.

Wisconsin would be investing $5.7 billion of cash and stock, comprising debt, the companies said the total value of the deal is $9.1 billion under the deal approved by both boards.

Integrys shareholders would get $18.58 in cash and 1.128 Wisconsin Energy shares per share of Integrys, totaling $71.47.

Accoridng to Wisconsin Energy CEO Gale Klappa commented, "At closing, we would expect a further dividend increase for the Wisconsin Energy shareholders to reflect the dividend policy of the combined company. In future years, the projected payout target for the combined company will be 65-70 percent of earnings,"


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Source: TendersInfo (India)


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