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PacifiCorp has made a cash offer for The Energy Group PLC, a diversified energy company in the U.K., Australia, and U.S. The boards of directors of both companies unanimously approved the transaction, valued at $9.6 billion in debt and equity.
PacifiCorp Holdings Inc., a wholly owned subsidiary of PacifiCorp, is offering $11.35 per share for The Energy Group. PacifiCorp will assume The Energy Group's $3.8 billion of debt in the transaction. Upon deal completion, PacifiCorp will have 5 million electric and gas customers, 17,000 megawatts of generation capacity and more than 10 billion tons of coal reserves.
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