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Agreement and Plan of Merger

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Title:

Agreement and Plan of Merger

Entities:

Banc of America Securities LLC; Citibank, NA; Citigroup Global Markets Inc.; Green Mountain Power Corp.

Date:

2006

Size:

Preview shows 42KB of 179KB total

Price:

$52

ID:

#2185798

► Plans ► Agreements ► Agreements & Plans of Merger
► Financial
► Utilities ► Electric Utilities

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AGREEMENT AND PLAN OF MERGER

BY AND AMONG

NORTHERN NEW ENGLAND ENERGY CORPORATION,

NORTHSTARS MERGER SUBSIDIARY CORPORATION

AND

GREEN MOUNTAIN POWER CORPORATION

Dated as of June 21, 2006

TABLE OF CONTENTS


			Page
ARTICLE I		DEFINITIONS	2

	Section 1.1.	Definitions	2
	Section 1.2.	Construction	9
	Section 1.3.	Schedules and Exhibits	10
	Section 1.4.	Knowledge	10

ARTICLE II		THE MERGER	10

	Section 2.1.	The Merger	10
	Section 2.2.	Articles of Incorporation of the Surviving Corporation	11
	Section 2.3.	Bylaws of the Surviving Corporation	11
	Section 2.4.	Directors and Officers of the Surviving Corporation	11
	Section 2.5.	Conversion of Stock	11
	Section 2.6.	Paying Agent; Surrender of Certificates	12
	Section 2.7.	Payment	13
	Section 2.8.	No Further Rights of Transfers	14
	Section 2.9.	Dissenting Shares	14
	Section 2.10.	Stock Options and Deferred Stock Units	14
	Section 2.11.	Section 16 Matters	15
	Section 2.12.	Closing	15
	Section 2.13.	Withholding Rights	15
	Section 2.14.	Adjustments to Prevent Dilution	16

ARTICLE III		REPRESENTATIONS AND WARRANTIES OF THE COMPANY	16

	Section 3.1.	Due Organization, Good Standing and Corporate Power	16
	Section 3.2.	Authorization; Noncontravention	16
	Section 3.3.	Capitalization	17
	Section 3.4.	Consents and Approvals	18
	Section 3.5.	Company Reports and Financial Statements	19
	Section 3.6.	Absence of Certain Changes	20
	Section 3.7.	Compliance with Laws	21
	Section 3.8.	Litigation	22
	Section 3.9.	Employee Benefit Plans	22
	Section 3.10.	Labor Matters	25
	Section 3.11.	Taxes.	25
	Section 3.12.	Intellectual Property	27
	Section 3.13.	Information	27

-i-


	Section 3.14.	Brokers or Finders Fee	28
	Section 3.15.	Certain Contracts and Arrangements	28
	Section 3.16.	Environmental Laws and Regulations	29
	Section 3.17.	Opinion of Financial Advisor	30
	Section 3.18.	Board Adoption	30
	Section 3.19.	Takeover Provisions	30
	Section 3.20.	Real Property	31
	Section 3.21.	Regulation as a Utility	32
	Section 3.22.	No Ownership of Nuclear Power Plants	32
	Section 3.23.	Insurance	32
	Section 3.24.	Condition of the Companys Assets	33

ARTICLE IV		REPRESENTATIONS AND WARRANTIES OF PARENT AND SUB	33

	Section 4.1.	Due Organization, Good Standing and Corporate Power	33
	Section 4.2.	Authorization; Noncontravention	33
	Section 4.3.	Consents and Approvals	34
	Section 4.4.	Information	34
	Section 4.5.	Brokers or Finders Fee	35
	Section 4.6.	Funds	35
	Section 4.7.	Litigation	35
	Section 4.8.	Ownership of Shares	35

ARTICLE V		ADDITIONAL AGREEMENTS	35

	Section 5.1.	Access to Information Concerning Properties and Records	35
	Section 5.2.	Confidentiality	36
	Section 5.3.	Conduct of the Business of the Company Pending the Effective Time	36
	Section 5.4.	Preparation of Proxy Statement; Shareholders Meeting	40
	Section 5.5.	Commercially Reasonable Efforts	41
	Section 5.6.	No Solicitation of Other Offers	42
	Section 5.7.	Regulatory Approvals Committee; Regulatory Filings and Approvals; Other Consents	44
	Section 5.8.	Changes to Rates or Charges	46
	Section 5.9.	Employee Benefits	46
	Section 5.10.	Indemnity; Directors and Officers Insurance; Fiduciary and Employee Benefit Insurance	46
	Section 5.11.	Public Announcements	48
	Section 5.12.	Notification of Certain Matters	49
	Section 5.13.	Sub	49
	Section 5.14.	Takeover Statutes	49

-ii-


		Section 5.15.		Termination of Dividend Reinvestment and Stock Purchase Plan and Employee Savings and Investment Plan

End of Preview

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