Printer Friendly

IPALCO QUESTIONS PSI'S REFUSAL TO ALLOW SHAREHOLDERS TO VOTE ON IPALCO'S OFFER

 INDIANAPOLIS, April 23 /PRNewswire/ -- The following was released today by IPALCO Enterprises, Inc. (NYSE: IPL):
 PSI continues to refuse to give its shareholders the opportunity to take advantage of our superior offer to purchase PSI for $26.50 per share in cash and stock, IPALCO said Friday.
 "We wonder how the PSI board of directors could have made a serious review of our proposal in just one day. We are concerned that the board has not been provided full information on which to make an analysis," said John R. Hodowal IPALCO chairman.
 Hodowal said the IPALCO offer is superior for shareholders, customers and the state of Indiana.
 "Based on the logic of our regulatory plan and our $1.6 billion in cost savings over 10 years for shareholders and customers, we feel confident that our plan will be approved by the Indiana Utility Regulatory Commission," Hodowal said.
 "PSI continues to distort the facts and try to mislead shareholders and customers on the benefits of plan. At the same time, they still have not fully disclosed their plans. And they conveniently ignore the fact that their own plan must also be approved by the Indiana commission and commissions in Ohio and Kentucky," Hodowal added.
 -0- 4/23/93
 /CONTACT: Susan Hanafee of IPALCO Enterprises, Inc., 317-261-8763/
 (IPL)


CO: IPALCO Enterprises, Inc. ST: Indiana IN: UTI SU:

SH-TS -- NY075 -- 0142 04/23/93 14:12 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 23, 1993
Words:234
Previous Article:AMEX TO BEGIN TRADING OPTIONS ON SNYDER OIL AND CAERE CORPORATION
Next Article:MONEY SMALL INVESTOR INDEX: SMALL INVESTORS PILE INTO JAPANESE FUNDS


Related Articles
IPALCO ENTERPRISES, INC., ANNOUNCES OFFER TO PURCHASE PSI RESOURCES, INC. FOR $26.50 PER SHARE IN CASH AND STOCK
IPALCO TO COMMENCE EXCHANGE OFFER FOR PSI RESOURCES AT $26.50 PER SHARE IN CASH AND STOCK
IPALCO SEEKS PROXIES TO ELECT FIVE NOMINEES TO PSI RESOURCES BOARD OF DIRECTORS AND IN OPPOSITION TO PSI
IPALCO ASKS COURT TO ORDER PSI TO HOLD SHAREHOLDERS MEETING
IPALCO RESPONDS TO JUDGE TINDER'S RULING
IPALCO ENTERPRISES INCREASES OFFER TO PURCHASE PSI RESOURCES BY $1.50 IN CASH TO $28.00 TOTAL VALUE PER SHARE
IPALCO ENTERPRISES INCREASES OFFER TO PURCHASE PSI RESOURCES TO $30.50 PER SHARE
IPALCO WILL RECOMMEND TERMINATION OF EXCHANGE OFFER IF NOMINEES NOT ELECTED
U.S. DISTRICT COURT STOPS PSI'S ATTEMPT TO STUFF THE BALLOT BOX
IPALCO SAYS ITS NOMINEES WILL NOT BE ELECTED TO PSI BOARD; CHAIRMAN WILL RECOMMEND TO BOARD THAT IT TERMINATE OFFER, CONSIDER ALL OPTIONS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters