Integrys Energy Group, Inc.NYSE
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  • Jun. 24, 2015, 4:47 PM
    • Wisconsin Energy's (NYSE:WEC) planned acquisition of Integrys Energy (NYSE:TEG) wins approval from the Illinois Commerce Commission, the final regulatory decision needed to complete the $9.1B takeover.
    • The approval is conditional on more than 40 items being met, including a two-year rate freeze for consumers and continued oversight of the troubled program by Peoples Gas to replace ~2K miles of aging pipes under Chicago streets.
    • Wisconsin, Michigan and Minnesota regulators already approved the deal.
    | Jun. 24, 2015, 4:47 PM
  • Jun. 12, 2015, 4:53 PM
    • The Minnesota Public Utilities Commission approves Wisconsin Energy's (NYSE:WEC) $9B purchase of Integrys Energy (NYSE:TEG), and declines to require that Minnesota utility customers be awarded bill refunds or credits proposed by the state attorney general's office.
    • WEC has now received approval from utility regulators in Wisconsin, Michigan and Minnesota as well as several federal agencies, and the deal needs one more yes vote - in Illinois - to be completed, where the AG is expected to argue next week that the merger should not be approved unless the state takes more steps to protect Chicago residents in light of a multibillion-dollar gas main replacement project there.
    | Jun. 12, 2015, 4:53 PM | 1 Comment
  • May 21, 2015, 4:47 PM
    • Wisconsin's Public Service Commission gives formal approval for Wisconsin Energy's (NYSE:WEC) $9.1B acquisition of Integrys (NYSE:TEG), with some conditions.
    • With today's approval and last month's OK from the Michigan Public Service Commission, only Illinois and Minnesota state approvals remain outstanding.
    • The deal would create one of the largest natural gas utilities in the U.S., expanding the Wisconsin-focused utility's presence in Michigan and allowing it to enter Illinois and Minnesota.
    | May 21, 2015, 4:47 PM
  • Jan. 13, 2015, 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.
    | Jan. 13, 2015, 5:34 PM
  • 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.
    | Jul. 30, 2014, 9:19 AM
  • 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.
    | Jun. 23, 2014, 7:16 AM | 7 Comments
  • 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.

    | Oct. 1, 2012, 8:23 AM
  • 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.

    | Sep. 1, 2011, 8:58 AM