Davis Polk advised the forward purchasers and forward sellers in connection with an at-the-market forward underwriting program for the offer and sale of shares of common stock of CMS Energy Corporation from time to time having an aggregate offering price of up to $250 million.

CMS Energy Corporation is an energy company operating primarily in Michigan. It is the parent holding company of several subsidiaries, including Consumers Energy, an electric and gas utility, and CMS Enterprises, primarily a domestic independent power producer.

The Davis Polk equity derivatives team included partner Mark J. DiFiore and associate Jeffrey H. Smith. The Davis Polk tax team included partner Lucy W. Farr and associate K. Daniel Berman. All members of the Davis Polk team are based in the New York office.