CVPS to Merge With GMP; Will Provide CVPS shareholders $35.25 per Common Share

The leaders of Central Vermont Public Service Corporation CV and Gaz Métro Limited Partnership today announced that a definitive agreement for the sale of CVPS has been signed. This clears the path for the combination of CVPS and Green Mountain Power Corporation, a subsidiary of Gaz Métro, into one stronger utility for Vermonters. The all-cash transaction will provide CVPS shareholders $35.25 per common share, a 45 percent premium over the closing price of $24.32 immediately prior to the announcement of the previous agreement CVPS had reached with Fortis Inc.. The CVPS Board has terminated the agreement with Fortis after deeming "superior" the offer from Gaz Métro.