Constellation Energy sets meeting date for shareholder vote on MidAmerican Energy merger

By Lisa Kerner

Charlotte, N.C., Nov. 25 - Constellation Energy Group, Inc. will hold a special meeting of shareholders on Dec. 23 in order to vote on the company's merger with MidAmerican Energy Holdings Co.

Record date for the meeting is Nov. 14.

Constellation Energy's board of directors strongly recommends shareholders vote in favor of the transaction that gives them $26.50 per share.

In September, the boards of directors of MidAmerican and Constellation Energy, a Baltimore energy products provider, approved a definitive merger agreement in which MidAmerican will acquire Constellation Energy for approximately $4.7 billion.

"The continued deterioration in global credit and commodity markets leads us to conclude that combining with a well-capitalized strategic partner like MidAmerican is the best outcome for Constellation Energy and its shareholders," chairman, president and chief executive officer Mayo A. Shattuck III said in a company news release.

As previously reported, the Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger.

MidAmerican Energy is an energy services provider. The company is located in Des Moines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.