18th Aug 2006 08:37
National Grid PLC18 August 2006 18 August 2006 UPDATE ON NATIONAL GRID ACQUISITION OF KEYSPAN National Grid is pleased to note that at the KeySpan Annual Meeting ofStockholders held yesterday, KeySpan stockholders voted in favour of theproposed acquisition of KeySpan by National Grid. This follows the announcement on 10 July 2006 that the Federal Trade Commissiongranted early termination of the waiting period under the Hart-Scott-RodinoAntitrust Improvements Act (HSR), and the announcement on 12 July 2006 that theCommittee on Foreign Investment in the United States (CFIUS) had completed itsreview of the transaction and determined there are no issues of nationalsecurity sufficient to warrant an investigation. National Grid shareholdersapproved the acquisition at the company's Extraordinary General Meeting on 31July 2006. Remaining approvals for the acquisition include authorisation by the FederalEnergy Regulatory Commission and by state public utility regulatory commissions,including the New York Public Service Commission (NYPSC) and the New HampshirePublic Utilities Commission (NHPUC). Filings requesting approval from each ofthe NYPSC and NHPUC were made on 21 July 2006 and 11 August 2006 respectively,and in May the companies filed for approval from the U.S. Federal EnergyRegulatory Commission. CONTACT DETAILS Investors Alexandra Lewis +44 (0)20 7004 3170 +44 (0)7768 554879 (m) Richard Smith +44 (0)20 7004 3172 +44 (0)7747 006321 (m) James Waite +44 (0)20 7004 3171 +44 (0)7977 440902 (m) Media Clive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173 (m) Citigate Dewe Rogerson +44 (0)20 7638 9571 Anthony Carlisle +44 (0)7973 611888 (m) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
National Grid