Wisconsin Energy Buys Integrys Energy for $9.1B
Wisconsin Energy and Integrys Energy Group have entered into a definitive agreement under which Wisconsin Energy will acquire Integrys in a transaction valued at $9.1 billion. The combined company will be named WEC Energy Group.
The combined Midwest company is projected to have a regulated rate base of $16.8 billion in 2015, serving more than 4.3 million total natural gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota, and operate nearly 71,000 miles of electric distribution lines and more than 44,000 miles of gas transmission and distribution lines.
The combination brings together Wisconsin Energy’s electric and gas utility – We Energies – and Integrys’ electric and gas utilities – Wisconsin Public Service, Peoples Gas, North Shore Gas, Minnesota Energy Resources and Michigan Gas Utilities.
WEC Energy Group will be headquartered in metropolitan Milwaukee with operating headquarters in Chicago, Green Bay and Milwaukee.
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