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Vectren Considers Options After Takeover Interest

  • Utility working with financial adviser after takeover interest
  • Shares of Vectren jump 9.1 percent after takeover interest
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Vectren Corp., a Midwestern gas and electric utility with a market value of almost $5.5 billion, is considering options including a potential sale after receiving takeover interest, people familiar with the matter said.

The Evansville, Indiana-based company has been working with a financial adviser after being approached by at least one potential buyer, said the people, who asked not to be identified because the matter wasn’t public. Vectren hasn’t formally put itself up for sale and could decide to remain independent, the people said. The identity of the potential suitor couldn’t immediately be learned.