NV Energy merger with MidAmerican Energy completed

merger-1303pei

MidAmerican Energy Holdings closed its merger with NV Energy on Dec. 19 after receiving final approvals from state and federal authorities.

The merger was first announced on May 29 in which MidAmerican would purchase all outstanding shares of NV Energy’s common stock for $23.75 per share in cash. The companies’ boards of directors approved the deal, and the transaction received final approvals from the Public Utilities Commission of Nevada, the Federal Energy Regulatory Commission and the U.S. Department of Justice.

NV Energy will continue to be run by CEO Michal Yackira until his retirement effective June 2014. Paul Caudill, who recently served as president of MidAmerican Solar, is joining NV Energy as president, effective immediately. The utility will continue to operate as a separate company, and will still be headquartered in Las Vegas. 

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...