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
June 28, 1995
Date of Report
Iowa-Illinois Gas and Electric Company
(Exact Name of Registrant as Specified in Charter)
Illinois 1-3573 42-0673189
(State or other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
106 East Second Street, Davenport, Iowa 52801
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (319) 326-7111
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Item 5. Other Events
Iowa-Illinois Gas and Electric Company and Midwest Resources
Inc. announced yesterday that the merger of the two companies
will be effective on July 1, 1995. The merger forms MidAmerican
Energy Company.
The common stock of MidAmerican will be listed on the New
York Stock Exchange under the symbol, MEC. Trading is expected
to begin on July 3, 1995.
A copy of the news release is included as an exhibit to this
Form 8-K.
Item 7. Financial Statements and Exhibits.
(C) Exhibits.
Exhibit Number Exhibit
99 News Release of Iowa-Illinois Gas and
Electric dated as of June 27, 1995.
<PAGE>
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 thereunto duly authorized.
IOWA-ILLINOIS GAS AND ELECTRIC COMPANY
By L. E. Cooper
L. E. Cooper, Vice President-Finance
and Chief Financial Officer
June 28, 1995
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
99 News Release of Iowa-Illinois Gas and Electric
Company dated as of June 27, 1995.
EXHIBIT 99
DES MOINES, IOWA Midwest Resources Inc. and Iowa-Illinois
Gas and Electric Company today announced that the merger of the
two companies will be effective on July 1, 1995. The merger
forms MidAmerican Energy Company.
The Federal Energy Regulatory Commission approved the merger
on June 15. The merger previously received necessary shareholder
approvals and clearance from state regulators in Iowa and
Illinois. The required waiting period under the Hart-Scott-
Rodino Anti-Trust Improvements Act has expired. The Nuclear
Regulatory Commission (NRC) must approve the transfer of
Iowa-Illinois' license for Quad-Cities Nuclear Generating Station
to MidAmerican. Iowa-Illinois owns 25 percent of the station,
which is operated by Commonwealth Edison Company. NRC approval
is expected before July 1.
"This extensive review confirms our conviction that the
merger is in the best interests of our customers, shareholders
and the communities we serve," said Russell E. Christiansen,
chairman, president and chief executive officer of Midwest
Resources.
The common stock of MidAmerican will be listed on the New
York Stock Exchange under the symbol, MEC. Trading is expected
to begin on July 3, 1995. Shareholders of Iowa-Illinois will be
sent information about the exchange of their common stock certi-
ficates into MidAmerican certificates. Shareholders of Midwest
Resources will not be required to exchange their certificates.
MidAmerican will be the 27th largest natural gas utility and
the 42nd largest electric utility in the country with annual
revenues of nearly $1.7 billion and assets of $4.4 billion. The
company will serve 592,000 natural gas customers and 628,000
electric customers in the service territory that covers much of
Iowa and areas of Illinois, Nebraska and South Dakota.
Non-regulated operations and investments will be located in one
subsidiary--InterCoast Energy Company. Another subsidiary,
Midwest Capital Group Inc., will provide business development
services and financing in the MidAmerican service area.
"MidAmerican will be stronger financially and will be better
able to use available generating capacity than either of the two
existing companies to meet customers' energy needs," said Stanley
J. Bright, chairman and chief executive officer of Iowa-Illinois.
"We will be in a better position to succeed and serve our
customers in the more competitive utility industry."
MidAmerican will have approximately 3,750 employees and
75,000 shareholders. Corporate headquarters will be in Des
Moines. Electric and natural gas headquarters will be in
Davenport and Sioux City, Iowa, respectively.
Customers will continue to see the names, Iowa-Illinois Gas
and Electric Company, Midwest Gas and Midwest Power, until
sometime this fall.
