Finance History | 11 Wall Street — UEP and CIP Became a Holding Book Called AEE
· 1998-1
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Finance History | 11 Wall Street — UEP and CIP Became a Holding Book Called AEE
kevin
People treat Ameren as a St. Louis utility that always printed AEE on a mature New York tape.
The first combined book was two Midwestern utilities folded into a new Missouri holding company.
On 31 December 1997 Union Electric Company of St. Louis and CIPSCO Incorporated of Springfield completed their merger.
Articles of merger were filed that day with the secretaries of state of Missouri and Illinois.
Each Union Electric common share converted into one share of Ameren Corporation common stock.
Each CIPSCO common share converted into 1.03 Ameren shares.
The predecessor tapes were UEP and CIP.
Ameren common stock began trading on the New York Stock Exchange on 2 January 1998 under the letters AEE.
The companies told the press the new parent held about 9 billion U.S. dollars of assets.
The Chicago Tribune valued the combination at about 1.4 billion U.S. dollars on the morning the holding company appeared.
Shareholders of both listed parents had approved the deal in 1995, after an 11 August 1995 merger agreement.
Union Electric kept operating as AmerenUE.
Central Illinois Public Service kept operating as AmerenCIPS.
Ameren's own later investor reports restated the same first-print date: trading began 2 January 1998 after a 31 December 1997 close.
The mechanism was a registered public-utility holding company that took two already-listed operating books and printed one parent ticker.
Photo: New York Stock Exchange Broad Street facade from the listing-collection cover.
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