Three major voting advisory services recommend DPL shareholders approve AES' proposed US$3.5B acquisition of company; merger requires support of two-thirds of DPL's outstanding shares of common stock
September 8, 2011
– DPL Inc. (NYSE:DPL - News) announced today that its proposed merger with a wholly-owned subsidiary of The AES Corporation (NYSE:AES - News) received support from all three of the nation’s major independent voting advisory services.
ISS Proxy Advisory Services, Glass Lewis & Co., and Egan-Jones Proxy Services have recommended that DPL shareholders vote FOR the proposed merger. The recommendations of these advisory firms are relied upon by thousands of institutional investors, pension and mutual funds throughout the country.
DPL’s annual meeting of shareholders will be held on Friday, September 23, 2011, at 10 a.m. Eastern time in Dayton, Ohio.
On April 20, 2011, DPL Inc. announced that it had entered into a definitive merger agreement with AES under which AES will acquire all the outstanding common shares of DPL for approximately $3.5 billion in cash, or $30 per share. The merger, which received unanimous support from the boards of directors of DPL and AES, requires the affirmative vote of two-thirds of the outstanding shares of DPL’s common stock.
DPL shareholders with questions or that need assistance in voting may call DPL’s proxy solicitor, Innisfree M&A Incorporated, toll-free at 1-877-456-3442.
DPL Inc. (NYSE:DPL - News) is a regional energy company. DPL was named one of Forbes’ “100 Most Trustworthy Companies” for the second consecutive year in August 2010.
DPL’s principal subsidiaries include The Dayton Power and Light Company (DP&L); DPL Energy, LLC (DPLE); and DPL Energy Resources, Inc. (DPLER), which also does business as DP&L Energy. DP&L, a regulated electric utility, provides service to over 500,000 retail customers in West Central Ohio; DPLE engages in the operation of merchant peaking generation facilities; and DPLER is a competitive retail electric supplier. DPL, through its subsidiaries, owns and operates approximately 3,800 megawatts of generation capacity, of which 2,800 megawatts are low cost coal-fired units and 1,000 megawatts are natural gas and diesel peaking units. Further information can be found at www.dplinc.com.