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Fortis, Central Hudson Offer Additional Enhancements to Merger Proposal

Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) and CH Energy Group, Inc. (NYSE: CHG), parent company of Central Hudson Gas & Electric Corporation, today filed a letter with the New York State Public Service Commission offering additional enhancements to the package of significant customer benefits contained within a Joint Proposal regarding their merger that was filed on January 28, 2013. The enhancements respond to the public input received since that time, including the Recommended Decision that was issued by the Commission on May 3, 2013. The Commission's approval is the only remaining requirement to close the transaction, which was first announced 15 months ago."We appreciate the strong support that we have received from so many of our stakeholders, and today we proved that we have also listened to requests for additional enhancements to the Joint Proposal," said CH Energy Group Chairman Steven V. Lant. "We know this merger is in the best interests of all we serve, and we are committed to delivering its many benefits to our customers."Fortis Vice President, Finance, and Chief Financial Officer Barry Perry said that Fortis is equally committed to serving the best interests of

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Posted-In: News Guidance Contracts Management M&A Global

 

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