Suez, GdF Merger Approved

After two and a half years of delays, a 91 billion euro ($144 million) merger of Suez and Gaz de France was approved by shareholders on Wednesday, The Daily Deal reported. The merger will create Europe’s No. 2 utility by market capitalization behind state-controlled Électricité de France SA. The new utility, GdF Suez, will be inaugurated and listed on July 22, when its new board will meet for the first time, The Daily Deal said. The companies originally announced plans to merge in February 2006 and intended to close the deal by the end of that year but were repeatedly frustrated by a combination of political wrangling, European Union antitrust intervention and union opposition. Go to Article from The Deal.com » Add your comments... Comments are moderated and will be posted if they are on-topic and not abusive. They may be... [read full story]