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Article: Enron Corp. and Enron Global Power & Pipelines Announce Merger Proposal
- Article from:
- PR Newswire
- Article date:
- May 14, 1997
CopyrightCOPYRIGHT 1997 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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HOUSTON, May 14 /PRNewswire/ -- Enron Corp. (NYSE: ENE) and Enron Global Power & Pipelines L.L.C. (NYSE: EPP) (EPP) jointly announced today that Enron has submitted a formal merger proposal to the Oversight Committee of the Board of Directors of EPP. Enron is proposing to merge EPP into Enron in a transaction in which each EPP stockholder would receive $32 per share in Enron common stock.
"Enron has been considering strategic alternatives involving its ownership interest in EPP and believes that the proposed merger will afford EPP shareholders a superior opportunity to participate in Enron's international development and merchant activities as well as ...