WPS Resources Corp. announced today it has completed its acquisition of Peoples Energy Corp., meaning the company has moved its corporate headquarters from Green Bay to Chicago and has changed its name to Integrys Energy Group Inc.
At the close of business today, shareholders of Peoples Energy will receive 0.825 shares of WPS Resources common stock for each common share of Peoples stock they own.
The newly combined company will begin trading under the ticker symbol TEG on Thursday.
"We would like to thank our customers, shareholders, employees, and regulators for their support in combining these two companies," stated Larry Weyers, president and chief executive officer of Integrys. "We look forward to finding opportunities to better serve our customers, to realize best business practices, to provide solid returns to our shareholders, and to act as good corporate citizens in the markets in which we operate."
Integrys expects potential annual synergies of $94 million over the next five years from the merger.
WPS Resources completes move to Chicago
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