M&A - PORTLAND GENERAL ELECTRIC CO /OR/

Form Type: 8-K

Filing Date: 2025-05-23

Corporate Action: Merger

Type: New

Accession Number: 000078497725000092

Filing Summary: On May 23, 2025, Portland General Electric Company (PGE) filed a notice with the Oregon Public Utilities Commission indicating its intent to submit a regulatory application for a holding company reorganization. The reorganization will create a non-operating corporate entity over the current structure, allowing for a subsidiary to hold transmission assets. This involves a strategic shift to enhance financial flexibility and support for new transmission projects and economic development. The reorganization is a multi-step process requiring approval from the OPUC and possibly the Federal Energy Regulatory Commission. Once completed, PGE shareholders will have their shares converted to shares of the new holding company on a one-for-one basis, maintaining their ownership percentages after the transition.