$6B Vectren Merger Moves Forward

(Image courtesy of Vectren Corp.)

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The $6 billion merger between Evansville-based Vectren Corp. (NYSE: VVC) and Texas-based CenterPoint Energy Inc. (NYSE: CNP) is another step closer to completion. The Federal Energy Regulatory Commission has approved the deal, which is expected to close no later than the first quarter of 2019.

The companies announced plans for the merger in April. At the time, Vectren Chief Executive Officer Carl Chapman said the combined company’s natural gas utility operations will be headquartered in Evansville. Vectren shareholders approved the merger in August.

The companies say they have begun "informational proceedings" with regulators in Indiana and Ohio, although neither state has approval authority over the merger.