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Last updated on Tuesday, April 24, 2018
(UNDATED) - CenterPoint Energy and Vectren Corporation have announced they have entered into a definitive merger agreement to form a leading energy delivery, infrastructure and services company serving more than 7 million customers across the United States.
Under the terms of the agreement, which have been unanimously approved by both utility's boards, Vectren shareholders will receive $72.00 in cash for each share of Vectren common stock.
CenterPoint Energy will also assume all outstanding Vectren net debt.
The combined company is expected to have electric and natural gas delivery operations in eight states with assets totaling $29 billion and an enterprise value of $27 billion.
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