Summary
This Form 8-K filing from Xcel Energy Inc. (XEL) reports on the consummation of the merger between Northern States Power Company (NSP) and New Century Energies, Inc. (NCE), which officially formed Xcel Energy Inc. on August 18, 2000. This event represents a significant corporate restructuring, creating a larger, combined entity with a broader operational footprint. The merger was structured as a tax-free, stock-for-stock exchange, with NCE shareholders receiving 1.55 shares of Xcel Energy common stock for each NCE share, and NSP shareholders exchanging their shares on a one-for-one basis. The filing also includes various exhibits, such as supplemental financial statements and news releases, providing further details on the financial implications and operational aspects of this major combination. Investors should note that this filing marks the formal establishment of Xcel Energy Inc. as a combined entity, subsequent to regulatory approvals.
Key Highlights
- 1Xcel Energy Inc. was officially formed on August 18, 2000, through the merger of Northern States Power Company (NSP) and New Century Energies, Inc. (NCE).
- 2The merger was completed after all required regulatory approvals were obtained.
- 3The transaction was structured as a tax-free, stock-for-stock exchange for the shareholders of both NSP and NCE.
- 4NCE common stock shareholders received 1.55 shares of Xcel Energy common stock per NCE share.
- 5NSP shareholders exchanged their shares for Xcel Energy shares on a one-for-one basis.
- 6Cash was provided for any fractional shares resulting from the stock exchange.
- 7The merger was accounted for using the pooling of interests method.
- 8Xcel Energy Inc. registered as a holding company under the Public Utility Holding Company Act of 1935 following the merger.