Shareholders of Questar Corp. voted overwhelmingly to approve the company’s acquisition by Dominion Resources during a special meeting of shareholders at Questar’s Salt Lake City headquarters held recently. Over 80 percent of the outstanding shares voted, with 96.6 percent approving the proposed merger.
Shareholders of Questar Corp. voted overwhelmingly to approve the company’s acquisition by Dominion Resources during a special meeting of shareholders at Questar’s Salt Lake City headquarters held recently. Over 80 percent of the outstanding shares voted, with 96.6 percent approving the proposed merger.
Questar and Dominion announced the merger on Feb. 1. On Feb. 23, the Federal Trade Commission granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act, allowing the vote to go forward.
The only remaining conditions to the merger are approvals by the Public Service Commission of Utah and the Wyoming Public Service Commission. The companies filed for approval with utility regulators in both states on March 3. Subject to obtaining the necessary regulatory approvals, Questar and Dominion expect the transaction to close by the end of 2016.
Questar is a Salt Lake City-based integrated natural gas company, operating through three principal subsidiaries: Questar Gas Co. provides retail natural gas distribution in Utah, Wyoming and Idaho; Wexpro Co. develops and produces natural gas from cost-of-service reserves for Questar Gas customers; and Questar Pipeline Co. operates interstate natural gas pipelines and storage facilities in the western U.S. and provides other energy services.