This morning I was punching numbers into my database,
and the share price for Central Vermont did something
wierd . . . it jumped from $24.32 a share last week
to $34.20 this week.
(If I sell now I might almost double my original
investment.)
http://www.marketwatch.com/story/central-vermont-ps-agrees-to-700m-fortis-inc-bid-2011-05-30?siteid=bigcharts&dist=bigcharts
Fortis Inc. (FTS.T) agreed Monday to buy Central Vermont Public Service Corp. the largest electric utility in Vermont, for about US$700 million, marking the Newfoundland-based utility's first foray into the U.S. regulated electric-utility market.
Central Vermont shareholders will get US$35.10 a share in the deal, a 44% premium to the utility's US$24.32 closing price in New York Friday.
Fortis said the US$700 million purchase price, which includes about US$230 million of debt, will be funded with cash from borrowings under its committed term credit facility.
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Zim: Now, I hold this in a direct stock purchase
plan . . . I wonder if this purchase means I will
be receiving a check and 'losing' my shares or do
I have to mail in a sell order or will I wind up
owning shares in this 'Fortis' . . .
Zim.
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