Press Release

  • BKH Stockprice: $72.74, - 0.38%
  • BKH Volume: 412,532 shares
  • BKH Market Capitalization: $4.38 billion

Black Hills Corp. Receives Hart-Scott-Rodino Clearance for SourceGas Acquisition

Company Release - 8/25/2015 5:55 PM ET

RAPID CITY, S.D. - Aug. 25, 2015 - Black Hills Corp. (NYSE: BKH) today announced that on Aug. 18 the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its proposed acquisition of SourceGas Holdings LLC. As announced on July 12, 2015, Black Hills entered into a definitive agreement to acquire SourceGas, an operator of four regulated natural gas utilities serving approximately 425,000 customers in Arkansas, Colorado, Nebraska and Wyoming and a 512-mile regulated intrastate natural gas transmission pipeline.

The transaction is also subject to regulatory approvals by the Arkansas Public Service Commission, Colorado Public Utilities Commission, Nebraska Public Service Commission and Wyoming Public Service Commission. Black Hills and SourceGas filed joint applications on Aug. 10, 2015, with each state regulatory commission requesting approval of Black Hills' acquisition of SourceGas. The transaction is expected to close in the first half of 2016.

Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a growth-oriented, vertically-integrated energy company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, S.D., the company serves 792,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company also generates wholesale electricity and produces natural gas, oil and coal. Black Hills Corp.'s more than 2,000 employees form partnerships and produce positive results for our customers, communities and shareholders. More information is available at www.blackhillscorp.com.

Caution Regarding Forward-Looking Statement
This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements, including the expected closing date of the transaction. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including the factors discussed above, the risk factors described in Item 1A of Part I of our 2014 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.

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Investor Relations
Jerome E. Nichols
605-721-1171
jerome.nichols@blackhillscorp.com

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Source: Black Hills Corporation via Globenewswire

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