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Integrys Energy Group, Inc. (TEG)

  • Tue, Jan. 13, 5:34 PM
    • Wisconsin Energy (NYSE:WEC) will sell its Upper Peninsula power plant and Michigan utility business under an agreement announced today by the Michigan governor's office, clearing a hurdle for WEC to pursue its $9.1B acquisition of Integrys Energy (NYSE:TEG).
    • WEC would sell its Upper Peninsula utility business to Upper Peninsula Power Co., including the coal-fired power plant it operates on Lake Superior in Marquette, Mich., while retaining 10 hydroelectric dams but selling its utility operations to UPPCo.
    • Other elements of the plan call for Cliffs Natural Resources (NYSE:CLF), the operator of two iron ore mines in the Upper Peninsula, to buy power from UPPCo until the Presque Isle coal plant shuts down in about five years.
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  • Jul. 30, 2014, 9:19 AM
    • Exelon (NYSE:EXC) agrees to acquire the retail electricity arm of Integrys Energy (NYSE:TEG) for $60M, in an attempt to grow its competitive retail energy supply business.
    • Integrys Energy Services, which supplies electricity for 720K Chicago residents, will become part of EXC's Constellation business unit, which would now serve ~2.5M residential and business customers across the U.S.
    • In addition to the $60M, EXC will pay adjusted net working capital at the time of closing; Integrys Energy Services had adjusted working capital of ~$183M as of May 31.
    • The transaction does not include TEG's energy assets, which are primarily solar.
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  • Jun. 23, 2014, 7:16 AM
    • Wisconsin Energy (WEC) purchases Integrys Energy (TEG) in a transaction valued at $9.1B.
    • Under the terms of the deal, the total consideration for shareholders is valued at $71.47 per Integrys share.
    • The companies expect the deal to close in the summer of 2015.
    • TEG +3.0% premarket to $62.78.
  • Oct. 1, 2012, 8:23 AM
    Integrys Energy (TEG) subsidiary Wisconsin Public Service agrees to buy Fox Energy for $440M.The purchase includes $390M for the Fox Energy Center, a 593-mw combined cycle generating facility in Kaukauna, WI. TEG says the deal will add diversity to its generation fleet, and enhance supply and pricing options.
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  • Sep. 1, 2011, 8:58 AM
    Integrys Energy (TEG) announces the acquisition of two natural gas companies in all-cash deals. The firm's CEO says the move will help Integrys enter the CNG fueling marketplace and is "complementary" to its skillset in regulated and non-regulated markets. Financial details were not disclosed.
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Company Description
Integrys Energy Group Inc is an energy holding company with regulated natural gas and electric utility operations, nonregulated energy operations.
Sector: Utilities
Industry: Gas Utilities
Country: United States