CenterPoint Energy, Vectren Announce Merger Agreement - Quick Facts

(RTTNews) - CenterPoint Energy, Inc. (CNP) and Vectren Corp. (VVC) announced a definitive merger agreement under which 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. Scott Prochazka will serve as president and CEO of the combined company. 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.

With the merger, CenterPoint Energy expects to maintain an annual guidance basis EPS growth target of 5 to 7 percent in 2019 and 2020, excluding any one-time charges related to the merger.