Former Shareholders of NSTAR, PSNH & Yankee Energy
Below is important information for those who held shares in the former companies that formed Eversource.
Former NSTAR Shareholders
On April 10, 2012, Northeast Utilities and NSTAR completed their merger first announced on October 18, 2010. NSTAR shareholders received 1.312 shares of NU for every share of NSTAR.
Registered NSTAR shareholders with questions concerning their share exchange should contact Computershare, the merger exchange agent, at 800-338-8446 or 781-575-2765.
Investors who held NSTAR shares in brokerage accounts should contact their stockbrokers.
Former Public Service Company of New Hampshire Shareholders
In January 1988, Public Service Company of New Hampshire (PSNH) filed for bankruptcy protection from creditors. In May 1991, PSNH emerged from bankruptcy under a reorganization plan sponsored by Northeast Utilities.
Under that plan, Northeast Utilities merged with PSNH in June 1992. PSNH shareholders had five years to turn in their shares to receive the agreed-upon value from Northeast Utilities.
Some of that value included warrants that allowed former PSNH shareholders to purchase NU common shares for $24 apiece. Those warrants expired in June 1997.
Those shareholders who did not redeem their PSNH shares by that date are no longer eligible to do so and all outstanding unclaimed redemption proceeds reverted back to PSNH. Therefore, any PSNH common stock issued in 1992 or before that time has no value today.
Former Yankee Energy System Shareholders
On March 1, 2000, Northeast Utilities merged with Yankee Energy System, Inc. (YES). Shareholders of YES received $45 of value, either in cash or NU shares or a combination of the two for every share of YES they owned. If they chose NU shares, they received 2.31 shares of NU for each share of YES. The transaction entitlements were based on the average NU price of $19.48125.
Shareholders who did not make an election received a combination of $7.65 in cash and 1.9173 shares of NU for each YES share. Fractional shares were paid in cash at a rate of $19.96 per share.