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Chesapeake Utilities Corporation and Florida Public Utilities Company Shareholders Approve Merger

  //business-finance.news-articles.net/content/200 .. ilities-company-shareholders-approve-merger.html
  Published in Business and Finance on Monday, October 26th 2009 at 5:34 GMT by Market Wire
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DOVER, DE--(Marketwire - October 22, 2009) - Chesapeake Utilities Corporation (NYSE: [ CPK ]) and Florida Public Utilities Company (NYSE Amex: [ FPU ]) announced that their shareholders approved the proposed merger of the companies at separate meetings held today. Under the merger agreement previously announced and approved today, each common share of Florida Public Utilities will be converted into 0.405 shares of Chesapeake common stock upon closing of the merger. The parties intend to proceed to close the transaction.

About Chesapeake Utilities Corporation ([ www.chpk.com ])

Incorporated in 1947, Chesapeake is a diversified utility company engaged in natural gas distribution, transmission and marketing, propane distribution and wholesale marketing, advanced information services and other related businesses. In total, Chesapeake currently serves approximately 100,000 distribution customers with either natural gas or propane gas. Chesapeake employs 448 people and posted $291.4 million in revenue for 2008.

About Florida Public Utilities ([ www.fpuc.com ])

Founded in 1924, Florida Public Utilities distributes natural gas, propane and electricity to residential, commercial and industrial customers in Florida. Florida Public Utilities is organized into two regulated business segments -- natural gas and electric; and one non-regulated business segment -- propane gas. Florida Public Utilities also sells merchandise and other service-related products as a complement to its natural gas and propane segments. Florida Public Utilities serves approximately 96,000 customers, employs 348 people and posted revenues of $168.5 million for 2008.