HubsBaker Botts Represents Vectren Corporation in $6 Billion Merger with CenterPoint Energy, Inc.
Release
Deal Description: April 23, 2018 – CenterPoint Energy, Inc. (NYSE: CNP) and Vectren Corporation (NYSE: VVC) today 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 CenterPoint Energy’s and Vectren’s Boards of Directors, 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.
Baker Botts represented Vectren Corporation in the transaction.
The Vectren legal team was led by Ronald E. Christian, Sr., Executive Vice President, Chief Legal and External Affairs Officer and Secretary of Vectren Corporation, with assistance from Robert Heidorn, General Counsel of Vectren Corporation.
Baker Botts Lawyers/Office Involved:
Corporate: William S. Lamb (Partner, New York); James Mayor (Partner, Houston); Courtney Fore (Senior Associate, Austin) and Allison Lancaster (Associate, Austin)
Employee Benefits: Mark Bodron (Partner, Houston) and Stephanie Jeane (Associate, Washington)
Finance: Martin Toulouse (Partner, New York) and Jon Finelli (Special Counsel, New York)
Tax: Don J. Lonczak (Partner, Washington)
For more information, please see Vectren’s news release by clicking here.
Under the terms of the agreement, which have been unanimously approved by both CenterPoint Energy’s and Vectren’s Boards of Directors, 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.
Baker Botts represented Vectren Corporation in the transaction.
The Vectren legal team was led by Ronald E. Christian, Sr., Executive Vice President, Chief Legal and External Affairs Officer and Secretary of Vectren Corporation, with assistance from Robert Heidorn, General Counsel of Vectren Corporation.
Baker Botts Lawyers/Office Involved:
Corporate: William S. Lamb (Partner, New York); James Mayor (Partner, Houston); Courtney Fore (Senior Associate, Austin) and Allison Lancaster (Associate, Austin)
Employee Benefits: Mark Bodron (Partner, Houston) and Stephanie Jeane (Associate, Washington)
Finance: Martin Toulouse (Partner, New York) and Jon Finelli (Special Counsel, New York)
Tax: Don J. Lonczak (Partner, Washington)
For more information, please see Vectren’s news release by clicking here.
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.
