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.
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