M&A Deal Summary

DTE Acquires MCN Energy Group

On May 31, 2001, DTE acquired utilities company MCN Energy Group for 4.6B USD

Acquisition Highlights
  • This is DTE’s 2nd transaction in the Utilities sector.
  • This is DTE’s largest (disclosed) transaction.
  • This is DTE’s 2nd transaction in the United States.
  • This is DTE’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2001-05-31
Target MCN Energy Group
Sector Utilities
Buyer(s) DTE
Deal Type Add-on Acquisition
Deal Value 4.6B USD
Advisor(s) BofA Securities (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

MCN Energy Group

Detroit, Michigan, United States
MCN Energy Group, Inc., is an integrated energy company. MCN is primarily involved in natural gas production, gathering, processing, transmission, storage and distribution, electric power generation and energy marketing.

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Buyer(S) 1

Buyer

DTE

Detroit, Michigan, United States
Category Company
Founded 1903
Sector Utilities
Employees9,608
Revenue 12.7B USD (2023)
DESCRIPTION
DTE Energy's corporate headquarters in downtown Detroit, Michigan.
DTE Energy's corporate headquarters in downtown Detroit, Michigan.

DTE is a diversified energy company involved in the development and management of energy-related businesses and services nationwide. DTE was founded in 1903 and is headquartered in Detroit, Michigan.

DEAL STATS #
Overall 2 of 4
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Michigan) 2 of 3
Country (United States) 2 of 4
Year (2001) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 American Light and Traction

Detroit, Michigan, United States

American Light and Traction, is a small utility industry of local power suppliers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Lincoln Generating Facility

Manhattan, Illinois, United States

Lincoln Generating Facility LLC is a simple-cycle plant that provides electric generating capacity to the PJM Interconnection market during periods of peak demand. Lincoln Generating Facility is based in Manhattan, Illinois.

Buy $173M
Mergr

Product

Company

Legal