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.
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