Wisconsin energy acquires Integrys for $9.1 Billion

Wisconsin energy acquires Integrys for $9.1 Billion

Wisconsin energy acquires Integrys for $9.1 Billion

The Wisconsin Energy Corporation made a deal to buy the Integrys Energy Group for about $9.1 Billion in stock and cash.

“We believe this combination provides a unique opportunity to create the premier regulated utility system in the Midwest, with superior service and competitive pricing for years to come,” “The operational and financial benefits to all of our stakeholders – from the customers and communities we serve, to the people we employ, to the shareholders who count on us to create value – are clear, achievable and compelling.” Mr. Klappa said.

He added that he believed the merger would add to Wisconsin Energy’s earnings per share in the first year after closing and not affect the company’s credit rating.

Today’s deal is the largest U.S. utility purchase announced this year behind Chicago-based Exelon’s $6.8 billion cash offer for Pepco Holdings Inc. (POM), owner of Washington’s electric utility.

The expected closing deal will be in summer 2015.

Main advisers for Wisconsin Energy are Barclays bank and law firm Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.

 

Mr. Stakebay says:

Combining the two companies will create new bigger Wisconsin Energy renamed the WEC Energy Group, creating a leading Midwest electric and gas utility with more than 4.3 million – 1,5 million electric and 2.8 million natural gas – customers in Illinois, Wisconsin, Minnesota and Michigan with headquarters in Milwaukee.

CEO of Integrys Energy Group INC……… Charles A. Schrock …….(2009-present)…….,……….. 4 208 605$ (2013)

CEO of Wisconsin Energy Corp …………… Gale E. Klappa …………(2004-present)……………… 9 741 656$ (2013)

 

INTEGRYS ENERGY GROUP

WISCONSIN ENERGY GROUP

Revenue

$ 2.425 Billion (2013)

$ 4.519 Billion (2013)

Operating income

$ 567.7 Million (2013)

$ 1.080 Billion (2013)

Profit

$ 354.8 Million (2013)

$ 577.4 Million (2013)

Total assets

$ 11.243 Billion (2013)

$ 14.77 Billion (2013)

Total Equity

$ 3.313 Billion (2013)

$ 4.233 Billion (2013)

Employees

5025 (2013)

4303 (2013)

 

 

 

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