Florida Public Utilities (NYSE Amex: FPU) Reiterates Merger Beneficial to Shareholders

Florida Public Utilities Company (NYSE Amex: FPU) mailed a letter to its shareholders regarding its proposed merger with Chesapeake Utilities Corporation (NYSE: CPK).

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In its letter, Florida Public Utilities (FPU) reiterated its strong belief that the merger will provide significant strategic and financial benefits to shareholders, customers and employees. The merger provides FPU shareholders a premium of more than 15 percent based on FPU's closing stock price the day before the merger announcement. FPU's letter also set forth its belief that the merger will provide FPU shareholders with ongoing ownership in a stronger utility platform with increased scale and scope in Florida; a more diversified customer base, energy portfolio and utility foundation; a broader geographical presence; and increased financial strength and stability. In its letter, FPU also corrected important facts about the proposed merger that Energy, Inc., an opponent of the merger, had previously mischaracterized or misstated. FPU urges shareholders to vote in favor of the merger with Chesapeake on the WHITE proxy card.

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