Two Illinois Coops Plan to Merge
Posted on Nov 19, 2012 in Corporate Governance, Mergers/Acquisitions | Comments Off on Two Illinois Coops Plan to Merge
Members of Farmers Mutual Electric Company approved a merger with fellow electric cooperative Jo-Carroll Energy, Inc. last Tuesday. Under the agreement, Farmers Mutual members will become members of Jo-Carroll Energy. Jo-Carroll Energy’s bylaws do not require its members to vote on a merger with another coop. Farmers Mutual will return $936,000 in capital credits to its members over a two-year period, the release said. Click here for more.
