CVPS Shareholders Overwhelmingly Approve Sale to Gaz Metro

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Central Vermont Public Service Corp. (NYSE: CV) have approved the sale of the company to Gaz Métro Limited Partnership in voting that concluded this morning. Gaz Métro is the parent company of Green Mountain Power; CVPS and GMP will ultimately merge into one stronger Vermont company after the sale is completed in 2012. Shareholders began voting in late summer by phone, mail and Internet, and final votes were cast today at a special shareholder meeting in Rutland. Over 75 percent of the outstanding shares of the company were represented at the meeting, and of those, more than 97 percent voted in support of the $702 million sale.

27% profits every 20 days?

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