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FERC approves CenterPoint's acquisition of Vectren

The Federal Energy Regulatory Commission on Oct. 5 approved CenterPoint Energy Inc.'s proposed $6 billion acquisition of Vectren Corp.

The proposed acquisition in August received the support of 61.6% of Vectren's outstanding common shares entitled to vote. The deal has also won early termination of the waiting period under the Hart-Scott-Rodino Act and approval from the U.S. Federal Communications Commission.

Informational proceedings with regulators in Indiana and Ohio have begun with the Indiana Utility Regulatory Commission setting a hearing on Oct. 17. A hearing before the Public Utilities Commission of Ohio is not expected. Neither Ohio nor Indiana regulators have approval authority over the merger, according to a news release.

The transaction is expected to close in the first quarter of 2019. The deal is expected to form an energy holding company that would serve more than 4 million natural gas customers and 2.5 million electric customers have an enterprise value of $27 billion.