Dominion, Questar Ready to Merge after Wyoming Says OK
All hurdles have been cleared for the planned merger between Dominion Resources Incorporated (NYSE:D) (Richmond, Virginia) and Questar Corporation (NYSE:STR) (Salt Lake City, Utah), following approval from the Wyoming Public Service Commission, subject to terms and conditions of an agreed settlement stipulation. The two companies plan to wrap up their combination by close of business on Friday, September 16, 2016, according to a press release from Dominion.
Industrial Info is tracking $1.34 billion in Dominion projects and $81 million in Questar projects.
The marriage has been widely expected and has faced relatively little resistance from regulators. The combined entity will provide energy services to seven states, including roughly 2.5 million electric utility customers and 2.3 million gas utility customers. It also will boast more than 15,500 miles of natural gas transmission, gathering and storage pipelines, and one of the largest natural gas storage systems in the U.S. For more information, see August 24, 2016, article - Dominion, Questar to Tie the Knot in the Rockies in Merger Fueled by Pipeline, Storage, Solar Projects.
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