DealBook: Duke Bids $13.7 Billion for Progress Energy

dealbook.nytimes.com (Jan 10 2011)

1. Duke Energy agreed to pay $47.48 a share for Progress Energy on Monday, in a deal valued at $13.7 billion. The deal would create the country’s largest utility, with $22.7 billion in revenue and more than 7 million customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio. The boards of both companies unanimously approved the all-stock deal, which is expected to increase profit in the first year. (Read Full Article)

   Bookmark or Share this article

Login to comment.