Chesapeake Utilities Corporation and Florida Public Utilities Company Shareholders Approve Merger
23 October 2009 - 6:55AM
PR Newswire (US)
DOVER, Del., Oct. 22 /PRNewswire-FirstCall/ -- Chesapeake Utilities
Corporation (NYSE:CPK) and Florida Public Utilities Company (NYSE
Amex: FPU) announced that their shareholders approved the proposed
merger of the companies at separate meetings held today. Under the
merger agreement previously announced and approved today, each
common share of Florida Public Utilities will be converted into
0.405 shares of Chesapeake common stock upon closing of the merger.
The parties intend to proceed to close the transaction. About
Chesapeake Utilities Corporation (http://www.chpk.com/)
Incorporated in 1947, Chesapeake is a diversified utility company
engaged in natural gas distribution, transmission and marketing,
propane distribution and wholesale marketing, advanced information
services and other related businesses. In total, Chesapeake
currently serves approximately 100,000 distribution customers with
either natural gas or propane gas. Chesapeake employs 448 people
and posted $291.4 million in revenue for 2008. About Florida Public
Utilities (http://www.fpuc.com/) Founded in 1924, Florida Public
Utilities distributes natural gas, propane and electricity to
residential, commercial and industrial customers in Florida.
Florida Public Utilities is organized into two regulated business
segments -- natural gas and electric; and one non-regulated
business segment -- propane gas. Florida Public Utilities also
sells merchandise and other service-related products as a
complement to its natural gas and propane segments. Florida Public
Utilities serves approximately 96,000 customers, employs 348 people
and posted revenues of $168.5 million for 2008. For more
information, contact: Beth W. Cooper Senior Vice President and
Chief Financial Officer 302.734.6799 DATASOURCE: Chesapeake
Utilities Corporation CONTACT: Beth W. Cooper, Senior Vice
President and Chief Financial Officer, Chesapeake Utilities
Corporation, +1-302-734-6799 Web Site: http://www.chpk.com/
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