Black Hills Corporation Responds to the Results of the Aquila Transaction Shareholder Votes
10 Ottobre 2007 - 11:02PM
PR Newswire (US)
RAPID CITY, S.D., Oct. 10 /PRNewswire-FirstCall/ -- Black Hills
Corporation (NYSE:BKH) today issued a response to the approvals
recently given by the shareholders of Aquila, Inc. (NYSE:ILA) and
Great Plains Energy (NYSE:GXP), pertaining to the proposed
transaction where the Company would purchase four gas utility
operations in Colorado, Kansas, Nebraska and Iowa and one electric
utility operation in Colorado for $940 million. David R. Emery,
Chairman, President and CEO of Black Hills Corporation, said, "We
are very pleased that shareholders of both Aquila and Great Plains
Energy approved the pending deal. With these milestones
accomplished, we are making good progress with our plans to acquire
the gas and electric operations from Aquila. We are continuing our
efforts to receive the remaining state and federal regulatory
approvals so that the transaction can close in the first quarter of
2008." ABOUT BLACK HILLS CORPORATION Black Hills Corporation is an
integrated energy company. Our retail businesses are Black Hills
Power, an electric utility serving western South Dakota,
northeastern Wyoming and southeastern Montana; and Cheyenne Light,
Fuel & Power, an electric and gas distribution utility serving
the Cheyenne, Wyoming vicinity. Black Hills Energy, the wholesale
energy business unit, generates electricity, produces natural gas,
oil and coal, and markets energy. More information is available at
our Internet website: http://www.blackhillscorp.com/. CAUTION
REGARDING FORWARD-LOOKING STATEMENTS This news release includes
"forward-looking statements" as defined by the Securities and
Exchange Commission, or SEC. We make these forward-looking
statements in reliance on the safe harbor protections provided
under the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in
this release that address activities, events or developments that
we expect, believe or anticipate will or may occur in the future
are forward-looking statements. These forward- looking statements
are based on assumptions which we believe are reasonable based on
current expectations and projections about future events and
industry conditions and trends affecting our business. However,
whether actual results and developments will conform to our
expectations and predictions is subject to a number of risks and
uncertainties that, among other things, could cause actual results
to differ materially from those contained in the forward- looking
statements, including the risk factors described in Item 1A of Part
I of our 2006 Annual Report on Form 10-K filed with the SEC, and
the following: * Our ability to complete acquisitions for which
definitive agreements have been executed; * Our ability to obtain
regulatory approval of acquisitions which, even if approved, could
impose financial and operating conditions or restrictions that
could impact our expected results; * Our ability to successfully
integrate and profitably operate any future acquisitions; * Our
ability to obtain adequate cost recovery for our retail utility
operations through regulatory proceedings and receive favorable
rulings in periodic applications to recover costs for fuel and
purchased power in our regulated utilities; DATASOURCE: Black Hills
Corporation CONTACT: Mark T. Thies, Executive Vice President and
Chief Financial Officer, +1-605-721-2331, or Dale T. Jahr, Director
of Investor Relations, +1-605-721-2326, , both of Black Hills
Corporation Web site: http://www.blackhillscorp.com/
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