SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 1, 1997
Date of Report (Date of Earliest Event Reported)
American Electric Power Company, Inc.
(Exact Name of Registrant as Specified in its Charter)
New York 1-3525 13-4922640
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
1 Riverside Plaza
Columbus, Ohio 43215
(Address of principal executive offices, including zip code)
(614)223-1000
(Registrant's Telephone Number, including area code)
ITEM 5. OTHER EVENTS.
On April 1, 1997, American Electric Power Company, Inc.
("AEP") and Public Service Company of Colorado ("PSCo") announced
that Yorkshire Holdings plc ("Yorkshire Holdings"), a joint venture
among AEP and PSCo, declared the cash tender offer to purchase all
the outstanding and to be issued shares of Yorkshire Electricity
Group plc ("Yorkshire Electricity") wholly unconditional in all
respects and, thereby, is committed to purchase all the outstanding
shares of Yorkshire Electricity. Reference is made to AEP's
Current Report on Form 8-K dated February 24, 1997, regarding the
announcement of the offer to acquire Yorkshire Electricity.
As of April 9, 1997, valid acceptances of Yorkshire Holdings'
offer to purchase shares of Yorkshire Electricity had been received
representing 144,280,070 shares or approximately 90.66% of
Yorkshire Electricity's issued share capital. Under the provisions
of the United Kingdom's Companies Act 1985, Yorkshire Holdings
intends to exercise its rights to acquire, under the terms of the
offer, the remaining shares in Yorkshire Electricity in respect of
which acceptances of the offer have not been received.
Total consideration to be paid by Yorkshire Holdings is
estimated to be approximately $2.4 billion (1.5 billion pounds
sterling). Yorkshire Holdings is a wholly-owned subsidiary of
Yorkshire Power Group Ltd. ("Yorkshire Power"), which is equally
owned by subsidiary companies of AEP and PSCo. The acquisition
will be financed by Yorkshire Power through a combination of
approximately 25% equity and 75% debt, including the assumption of
the existing debt of Yorkshire Electricity. The funds for the
acquisition will be obtained from AEP's and PSCo's investment in
Yorkshire Power of approximately $360 million (220 pounds sterling)
each, with the remainder to be obtained by Yorkshire Power through
the issuance of non-recourse debt. Yorkshire Power will, in turn,
fund Yorkshire Holdings for the purpose of the acquisition.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
AMERICAN ELECTRIC POWER COMPANY, INC.
By:_/s/ G. P. Maloney_____
G. P. Maloney
Vice President
Dated: April 15, 1997
