Integrys shareholders will receive $71.47 a share on a 74%-26% stock-cash basis. That values the proposed deal at more than 17% over Integrys’s Friday closing price of $60.95.
With assumption of debt and other consideration, the company values the deal at $9.1bn. It requires regulatory approvals.
The combined company would be called WEC Energy Group with roughly 4.3 million electric and natural gas customers in four states – Illinois, Michigan, Minnesota and Wisconsin.
Wisconsin
