Wisconsin Energy to Buy Integrys
of 2015.
"We expect that the combined company will be able to grow earnings at 5-7 percent per year, faster than either one of us is projecting on a standalone business," Klappa said.
The transaction is subject to approvals from the Federal Energy Regulatory Commission, the Federal Communications Commission and some state commissions.
Barclays is Wisconsin Energy's financial adviser, while Lazard is advising Integrys.
(By Swetha Gopinath and Kanika Sikka, Reporting by Swetha Gopinath in Bangalore; Editing by Sriraj Kalluvila, Saumyadeb Chakrabarty and Ted Kerr)