Dominion-Questar Merger Moves Closer After Approval From Utah's PSC
The Public Service Commission of Utah has approved the merger between Dominion Resources, Inc. and Questar Corporation, subject to terms and conditions of an agreed settlement stipulation. With this action, the final regulatory approval needed to complete the merger is pending with the Wyoming Public Service Commission.
The proposed merger would create an integrated energy company serving about 2.5 million electric utility customers and 2.3 million gas utility customers in seven states. The combined company also would operate more than 15,500 miles of natural gas transmission, gathering and storage pipelines, one of the nation’s largest natural gas storage systems, and approximately 25,700 megawatts of electric generation.
In February, the Federal Trade Commission granted early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to the transaction. In May, Questar’s shareholders signified their overwhelming approval.
The transaction is expected to close in 2016 shortly after final regulatory approval is received.
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