ITC Holdings Shareholders Approve $1.8B Entergy Merger

Law360, Los Angeles (April 16, 2013, 4:50 PM EDT) -- Shareholders of electricity transmission company ITC Holdings Corp. on Tuesday approved the company's proposed $1.78 billion merger with Entergy Corp., four months after Entergy announced it would separate its own electricity transmission business and merge into ITC.

The deal calls for the New Orleans-based Entergy to receive $1.78 billion in cash and its shareholders will get a majority stake — 50.1 percent — in the new company. The vote on the deal occurred at a special meeting of ITC shareholders. The merger is scheduled to close...
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