Vectren, CenterPoint Merger Complete

Posted: Updated:
(Image courtesy of Vectren Corp.) (Image courtesy of Vectren Corp.)
HOUSTON, Tex. -

Houston-based CenterPoint Energy Inc. (NYSE: CNP) has completed its $6 billion merger with Vectren Corp. (NYSE: VVC) in Evansville. The combined company, known as CenterPoint Energy, says it now has assets totaling $29 billion.

Plans for the merger were first announced in April. The company will remain headquartered in Houston, though its natural gas utility business and Indiana electric utility business will be headquartered in Evansville. CenterPoint Energy will also continue to trade on the New York Stock Exchange under the ticker symbol "CNP."

"Today, we come together as one company. With a greater level of business operations, resources and capabilities, we plan to execute a unified business strategy focused on the safe and reliable delivery of electricity, natural gas and energy-related services," said Scott Prochazka, chief executive officer of CenterPoint Energy. "It is a time of transformation for our industry, and I believe CenterPoint Energy will be well positioned to deliver traditional energy services with innovative solutions that meet customers' evolving needs and expectations."

While CenterPoint did not make a specific announcement, our partners at WEHT-TV in Evansville report some Vectren employees are being laid off as a result of the merger. Carl Chapman, outgoing Vectren CEO, said in a news release the combined company will thrive in an evolving industry.

"CenterPoint Energy was the right partner for Vectren and I am confident this merger will have a positive impact on all stakeholders," said Chapman. "I sincerely thank the employees and shareholders who have been part of the Vectren journey."

  • Perspectives

    • Take Time to Face Reality

      When is the last time that you as a business owner truly stopped for 30 minutes or an hour and truly took some quiet time to reflect on your business? Like most owners, it’s probably been quite some time. We all get busy doing things, working hard, taking care of customers, running the business. But if we don’t take some time each day, week, month or quarter to slow down, we are setting ourselves up for failure. Business leaders and owners need the time to slow down to...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (Image provided by the Capital Improvement Board.)

      Indy Alters Plans for Downtown Hotels

      The city of Indianapolis has announced plans to change the framework for a major project in downtown Indy that has sparked controversy. The $120 million project, announced in October 2018, calls for an expansion of the Indiana Convention Center and two new hotels at Pan Am Plaza, which would add about 1,400 rooms. The project has drawn criticism from a group of hoteliers, who have expressed concern of a potential oversaturation in downtown Indy. Indianapolis Mayor Joe Hogsett issued...

    • How Elkhart Became The RV Capital of The World

      Today we all know Elkhart, Indiana as the RV Capital of the World. More than 80 percent of global RV production is based throughout the region. That means that if you see an RV rolling down the road anywhere in the world, chances are that it was built with the craftsmanship and dedication of Hoosiers.

    • Shelly Timmons

      IU Health Names New Leader of Neurosurgery

      The Indiana University School of Medicine and IU Health Physicians have named Shelly Timmons to lead the department of neurosurgery. She previously served at Penn State Health Milton S. Hershey Medical Center as vice chair for administration in the department of neurosurgery and director of neurotrauma.  

    • Elanco is headquartered in Greenfield.

      Elanco Finishes Deal on Pet Therapeutics Purchase

      Greenfield-based Elanco Animal Health Inc.(NYSE: ELAN) completed its purchase Thursday of Aratana Therapeutics (Nasdaq: PETX), a pet therapeutics company located near Kansas City. As Inside INdiana Business first reported Tuesday Aratana shareholders voted overwhelmingly in favor of the $245 million deal. 

    • On-Air

      Find out when and where you can watch and listen to our reports.