Tender Offer for Preferred Stock of Central Maine Power Company
NEW GLOUCESTER, Maine, March 4 /PRNewswire/ -- CMP Group, Inc. (CMP Group), the owner of all of the outstanding common stock of Central Maine Power Company (CMP) and a wholly owned subsidiary of Iberdrola USA, Inc., today announced the preliminary results of its tender offer for all of the preferred stock of CMP listed below that expired at 5 p.m. New York City time on March 3, 2010.
Number of Percent of Shares Shares Series CUSIP No. Tendered Outstanding ------ --------- --------- ----------- 6% Preferred Stock 154051403 2,833 54.69% 4.60% Dividend Series 154051304 18,136 60.45% 4.75% Dividend Series 154051866 40,972 81.94% 5.25% Dividend Series 154051pp5 50,000 100.00%
The tender offer was conditioned upon, among other things, there being at the expiration of the tender offer more than 50% of the outstanding shares of preferred stock, exclusive of the 533 shares of preferred stock already owned by CMP Group, that have been validly tendered and not withdrawn. At the expiration of the offer, approximately 82.81% of shares outstanding were validly tendered and not withdrawn, therefore, CMP Group has accepted all shares validly tendered.
Holders of shares validly tendered prior to the expiration time will receive the applicable purchase price per share plus an amount equal to any accrued but unpaid dividends up to but not including the settlement date.
SOURCE CMP Group, Inc.
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