UIL Holdings unit again extends tender offer for $3.125-par preferreds

By Susanna Moon

Chicago, March 26 - UIL Holdings Corp. wholly owned subsidiary CTG Resources, Inc. again extended 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 April 8, extended from March 25 and, before that, March 4.

As of the deadline on March 25, investors had tendered 38,953 preferreds, or 35.83% of outstanding shares, compared with 34,861 of the preferreds, or 32.07% of the shares, tendered by March 4.

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

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.

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