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Analysts: Wisconsin Energy, Integrys combo makes solid strategic sense

Jun. 24, 2014 2:55 PM ETWEC Energy Group, Inc. (WEC) StockWEC, TEGBy: Carl Surran, SA News Editor10 Comments
  • Wisconsin Energy (WEC +1.9%) regains some of yesterday's 3.5% loss following its acquisition of Integrys (TEG +1.5%) for $71.47/share, which represents a 17.3% premium to Friday's closing price.
  • Wells Fargo upgrades WEC to Outperform and raises its target price for shares to $50-$51 from $49-$50, believing the deal makes strategic sense given synergies associated with geographic fit and potential opportunities via an increased ownership in Wisconsin transmission grid owner ATC; however, CRT Capital cuts its WEC target price to $44 from $48, citing subsequent increased regulatory risk and potential year-long overhang (Briefing.com).
  • For TEG shareholders, the deal brings a healthy 17% premium and they’re getting shares in a very solid company, says Morningstar's Charles Fishman.

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