Voting deadline extended after HEI shareholders fail to approve merger

Local News
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After not getting the votes necessary to approve its proposed merger with NextEra Energy, Hawaiian Electric Industries has pushed back the voting deadline.

HEI says enough shareholders failed to vote, preventing them from reaching a 75-percent super-majority, which is required under Hawaii law.

But the company says of the investors who did vote, about 90 percent voted in favor of the deal.

“Here we got this strange situation where we’ve got 90 percent of those who have voted voting for the merger, but yet we still need to get more votes,” said Connie Lau, HEI president and CEO.

Lynne Matusow voted against the merger. “They’re looking to set up their own thing. We shouldn’t be voting that. We don’t have all the facts and Hawaiian Electric is rushing things and i think it’s wrong,” she said.

The next shareholder meeting is scheduled for June 10 at 10 a.m.

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