Wisconsin Energy Corp. (NYSE: WEC) signed a definitive agreement to acquire Integrys Energy Group (NYSE: TEG) for $9.1 billion. When the deal is completed, the combined company would be named WEC Energy Group Inc.
The combined company includes Wisconsin Energy’s electric and gas utility, We Energies, and Integrys’ electric and gas utilities: Wisconsin Public Service, People Gas, North Shore Gas, Minnesota Energy Rsources and Michigan Gas Utilities.
The new company is projected to have a regulated rate base of $16.8 billion in 2015, serve more than 4.3 million gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota, and operate 71,000 miles of electric distribution lines and more than 44,000 miles of gas transmission and distribution lines.
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