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Wisconsin Energy Corporation (WEC)

  • 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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  • 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.
  • Mar. 4, 2014, 10:43 AM
    • Utilities that meet takeover criteria outlined by Warren Buffett this weekend for another “major” acquisition after paying more than $5B last year for electricity provider NV Energy include Wisconsin Energy (WEC +1.8%) and Alliant Energy (LNT +1.1%), Bloomberg speculates.
    • WEC and LNT operate in states with favorable regulatory environments, and LNT is expanding into renewable energy, which Buffett has signaled could be a focus for large investments, according to Morningstar; pipeline MLPs such as Plains All American (PAA) and MarkWest Energy (MWE) also could appeal to Buffett, a Baird analyst says.
    • Berkshire Hathaway (BRK.A, BRK.B) “is likely looking at a lot of small, regulated utilities that have a lot of growth on the table where his low cost of capital is an incredible advantage,” Morningstar's Mark Barnett says.
  • Dec. 7, 2011, 9:41 AM
    Alliant Energy's (LNT +1.4%) recent moves to revise provisions for executive pay and employee retirement plans in case of a takeover sparks speculation that the operator of power plants in Wisconsin and Iowa could sell itself to Berkshire Hathaway (BRK.A) or Wisconsin Energy (WEC).
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Company Description
Wisconsin Energy Corp is an energy holding company. The Company, through its subsidiaries, provides utility services such as distributing electric, gas, steam, and water.
Sector: Utilities
Country: United States