Chesapeake Utilities Corporation (NYSE: CPK) and Florida Public Utilities Company (AMEX: FPU) have received shareholder approval for the merger of the two companies. Under the merger, each common share of Florida Public Utilities will be converted into 0.405 shares of Chesapeake common stock upon closing of the merger. The parties intend to proceeds to close the transaction.
Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Stock Newsletter
About Chesapeake Utilities Corporation (www.chpk.com)
Incorporated in 1947, Chesapeake is a diversified utility company engaged in natural gas distribution, transmission and marketing, propane distribution and wholesale marketing, advanced information services and other related businesses. In total, Chesapeake currently serves approximately 100,000 distribution customers with either natural gas or propane gas. Chesapeake employs 448 people and posted $291.4 million in revenue for 2008.
About Florida Public Utilities (www.fpuc.com)
Founded in 1924, Florida Public Utilities distributes natural gas, propane and electricity to residential, commercial and industrial customers in Florida. Florida Public Utilities is organized into two regulated business segments -- natural gas and electric; and one non-regulated business segment -- propane gas. Florida Public Utilities also sells merchandise and other service-related products as a complement to its natural gas and propane segments. Florida Public Utilities serves approximately 96,000 customers, employs 348 people and posted revenues of $168.5 million for 2008.
Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Best Damn Penny Stocks
Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
