Duke Energy Corp. buying Progress Energy Inc.
Duke Energy Corp. is getting Progress Energy Inc. to create what will probably be America’s largest utility organization.
Duke Energy paid greater than $13 billion in stock and can now serve more than 7 million clients, in accordance with various reports.
Dealbook notes that this really is the newest in a very wave of utility specials “as companies seek to cut costs and combat falling prices by increasing their customer bases .” As outlined by Thomson Reuters information, energy and power mergers accounted for 20 % of announced takeovers in 2010.
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