Friday, August 18, 2006

KeySpan Shareholders Approve Takeover

Keyspan Corp. shareholders gave their consent Thursday to an $11.8 billion takeover by Britain's National Grid Plc., the Brooklyn-based company said.

The vote, cast at Keyspan's annual shareholder meeting, brings the two companies a step closer to forging the third largest energy utility in the U.S., with about eight million electric and gas customers in New York and neighboring New England.