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Article: Consolidated Edison to Acquire Northeast Utilities In $19 Billion Strategic Combination.
- Article from:
- PR Newswire
- Article date:
- October 13, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. 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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Creates Nation's Largest Electric Distribution Utility
With Over 5 Million Customers
NEW YORK and BERLIN, Conn., Oct. 13 /PRNewswire/ -- Consolidated Edison, Inc. ("Consolidated Edison") (NYSE: ED) and Northeast Utilities (NYSE: NU) today announced that the boards of both companies have approved a definitive merger agreement to combine the two companies. Under the agreement, Consolidated Edison will acquire all of the common stock of Northeast Utilities for $25.00 per share in a combination of cash and Consolidated Edison common stock, subject in the case of the common stock, to certain collar provisions.
Northeast Utilities shareholders will ...