Wisconsin Energy’s planned $9.1 billion acquisition of Integrys
Energy Group has received approvals from the shareholders of
both companies. The transaction, which is expected to be
completed in 2015, must gain approvals from the Public Service
Commissions in both Wisconsin and Illinois. Votes were taken
at Wisconsin Energy headquarters in Milwaukee and at Integrys
headquarters in Chicago. Wisconsin Energy shareholders
approved issuing new common stock and amending the
company’s articles of incorporation to change the firm’s name
to WEC Energy Group.

Wisconsin Energy and Integrys Schedule Shareholder Meetings

Service territory map from

Wisconsin Energy and Integrys Energy have announced that the registration statement on Form S-4 filed by Wisconsin Energy with the U.S. Securities and Exchange Commission on August 13, 2014, and as subsequently amended, which includes a joint proxy statement/prospectus of Wisconsin Energy and Integrys Energy Group, is now effective.

The companies also announced that they each have scheduled
special meetings for shareholders in connection with the
proposed combination of Wisconsin Energy and Integrys Energy
Group. Completing the transaction remains subject to customary
closing conditions, including receipt of shareholder and regulatory
approvals. Wisconsin Energy’s special meeting of shareholders
will be held at 10 a.m. Central Time on Friday, November 21,
2014, at Wisconsin Energy’s headquarters, 231 W. Michigan
Street, Milwaukee, Wisconsin. Integrys Energy Group’s special
meeting of shareholders also will be held at 10 a.m. Central
time on Friday, November 21, 2014, in the Aon Building
Auditorium, 200 East Randolph Street, South Lobby/Parking
Level 1, Chicago, Illinois. Each company’s shareholders of record
at the close of business on Monday, October 13, 2014, will be
entitled to vote at their respective meetings. Wisconsin Energy
and Integrys Energy Group expect to begin mailing the joint
proxy statement/prospectus to their respective shareholders
promptly following the record date for the shareholder meetings.
The joint proxy statement/prospectus will provide additional
information and instructions on voting for shareholders of both


 State Representative Mike Kuglitsch and WUI Executive
   Director Bob Seitz answer WUI member questions.

WUI regional meetings in Stevens Point and Oshkosh in June
and July, respectively, were well attended by 115 members
who were briefed on how technology and distributed
electric generation affect utility consumers and investors.
The Stevens Point meeting featured a presentation by
Dennis Derricks, assistant vice president-regulatory affairs,
Wisconsin Public Service. In Oshkosh, the program included
presentations by Greg Bollom, assistant vice president-energy
planning, Madison Gas and Electric, and Jessica Pacheco,
vice president, state and local affairs, Arizona Public Service.
Representative Mike Kuglitsch, chair, Committee on Energy
and Utilities, discussed his position on utility issues. The WUI
Board of Directors is grateful to all members and guests,
including shareholder services representatives Donna Sheedy
(Integrys) and Kari Nelson (Alliant), and government relations
representatives Bob Bartlett (Alliant), Kristin Gilkes (Alliant),
Chris LaRowe (Integrys), Deb Erwin (Xcel), Matt Pagel
(Xcel), John Garvin (ATC), and Joel Haubrich (WE Energies).

The upcoming 2014 WUI Annual Meeting, scheduled for
September 18th,  will build on your knowledge of utility
technology and distributed generation issues, introduce you
to leaders in the utilities and state government, and recap the
year’s events.

Click here to RSVP today!


Wisconsin Energy to acquire Integrys Energy Group…

…for $9.1 billion in cash, stock and assumed debt – creating a leading Midwest electric and gas utility


“This is great news for investors in these two great companies and for the state of Wisconsin.  This will ensure Wisconsin remains a  regional center for energy served by strong, well-run utilities with a homegrown presence.”

From Bob Seitz, Executive Director, Wisconsin Utility Investors.

MILWAUKEE and CHICAGO – June 23, 2014 – Wisconsin Energy Corp. (NYSE: WEC) and Integrys Energy Group Inc. (NYSE: TEG) today announced that they have entered into a definitive agreement under which Wisconsin Energy will acquire Integrys in a transaction valued at $9.1 billion. Upon completion of the transaction, the combined company will be named WEC Energy Group, Inc.
The combination of Wisconsin Energy and Integrys brings together two strong and well-regarded utility operators with complementary geographic footprints to create a larger, more diverse Midwest electric and natural gas delivery company with the operational expertise, scale and financial resources to meet the region’s future energy needs.
The combined entity is projected to have a regulated rate base of $16.8 billion in 2015, serve more than 4.3 million total gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota, and operate nearly 71,000 miles of electric distribution lines and more than 44,000 miles of gas transmission and distribution lines. The combination brings together Wisconsin Energy’s top-performing electric and gas utility – We Energies – and Integrys’ strong electric and gas utilities – Wisconsin Public Service, Peoples Gas, North Shore Gas, Minnesota Energy Resources and Michigan Gas Utilities.
In addition to expanding and diversifying Wisconsin Energy’s regulated holdings into other large Midwestern states, the combined company will hold a 60 percent stake in American Transmission Co.
Gale Klappa, chairman and CEO of Wisconsin Energy said, “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.”
He continued, “We have been consistent in our commitment to undertake acquisitions or combinations only if we believe they will be accretive to earnings per share in the first calendar year after closing, be largely credit neutral and produce a growth rate at least equal to Wisconsin Energy’s stand-alone growth rate. This combination meets or exceeds those criteria on all counts.”
Charlie Schrock, chairman and CEO of Integrys commented, “Wisconsin Energy is consistently ranked as one of the best companies in the nation for reliability and customer satisfaction. With compatible operational philosophies and Wisconsin Energy’s demonstrated commitment to reliability, customer satisfaction, safety and environmental stewardship, Wisconsin Energy is a great partner for Integrys. Our shareholders will receive an attractive premium for their investment and will also benefit from the opportunity to participate in the upside of the combination, including future value creation and a growing dividend program. Wisconsin Energy is committed to the accelerated investment we’re making in our territories – investment that will help build on our strong track record of quality. As a larger combined company committed to growth, we believe the combination will also offer more diverse opportunities for employees.”

Click here to see full news release.


Wisconsin Public Service Corporation, a subsidiary
of Integrys Energy Group, has filed a request for
new utility rates in 2015 with the Public Service
Commission of Wisconsin The proposal calls for
an 8.0% increase in electric rates and a decrease of
0.5% in natural gas rates. The company’s electric
rates have remained relatively unchanged since 2008
and gas distribution rates have decreased over the
same period.

« Older Entries Next Entries »