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Article: IES Industries Board Approves Revised Merger Agreement With WPL Holdings and Interstate Power
- Article from:
- PR Newswire
- Article date:
- August 16, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Rejects MidAmerican's Hostile Takeover Proposal;
Calls Unsolicited Bid 'Inferior'
CEDAR RAPIDS, Iowa, Aug. 16 /PRNewswire/ -- IES Industries Inc. (NYSE: IES) announced today that its Board of Directors unanimously approved revised terms of a merger agreement with WPL Holdings, Inc. (NYSE: WPH) of Madison, Wisconsin, and Interstate Power Company (NYSE: IPC) of Dubuque, Iowa, to form a new regional powerhouse, Interstate Energy Corporation. Under the terms of the revised agreement, which was also unanimously approved by the directors present at the Board meetings of WPLH and IPC, each share of IES common stock will be converted ...