UIL Holdings subsidiary extends tender offer for $3.125 par preferreds

By Jennifer Chiou

New York, March 5 - UIL Holdings Corp. wholly owned subsidiary CTG Resources, Inc. announced the extension of the cash tender offer for all of the issued and outstanding shares of the $3.125 par preferred stock of its subsidiary, Connecticut Natural Gas Corp., at a price of $7.50 per share.

The offer will now end at 5 p.m. ET on March 25, prolonged from March 4.

As of Jan. 31, 108,706 of the preferreds were outstanding.

At the prior tender deadline, holders of 34,861 of the preferreds, or 32.07% of the shares, had tendered their securities.

Computershare Trust Co., NA is the depositary. Georgeson, Inc. is the information agent.

UIL Holdings is a New Haven, Conn.-based diversified energy delivery company. It launched the offer on Feb. 3, when the last reported sales price of the preferreds was $5.55.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.