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Duke Energy to buy Progress Energy for $13.7 billion

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HydroDave63:
Duke Energy said on Monday it agreed to buy Progress Energy Inc for $13.7 billion in stock, creating the largest U.S. power company if it wins approval from regulators in North and South Carolina.

The transaction would create an industry giant with approximately 7.1 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio, and 57,000 megawatts of generating capacity.

http://www.reuters.com/article/idUSTRE7092NK20110110?feedType=RSS&feedName=topNews

Rennhack:
Thanks for the news.  If it goes through, it means one more set of outages will finally align.

cincinnatinuke:
This is just huge man!  From what I could tell from this list, the deal would give the combined company 12 nuclear reactors:

http://www.nrc.gov/reactors/operating/list-power-reactor-units.html

That is one heck of a fleet.  Now I wonder if others will follow since I read this AM that 10% of all M&A activity for 2010 was from the Energy and Utility sector.

Sun Dog:

--- Quote from: cincinnatinuke on Jan 10, 2011, 01:06 ---This is just huge man!  From what I could tell from this list, the deal would give the combined company 12 nuclear reactors:

http://www.nrc.gov/reactors/operating/list-power-reactor-units.html

That is one heck of a fleet.  Now I wonder if others will follow since I read this AM that 10% of all M&A activity for 2010 was from the Energy and Utility sector.

--- End quote ---

This means when Exelon buys Duke they will manage a total of 29 reactors!

HydroDave63:

--- Quote from: Sun Dog on Jan 10, 2011, 07:22 ---This means when Exelon buys Duke they will manage a total of 29 reactors!


--- End quote ---

Considering the Axe-A-Lot business model, I think that acquisition would be nicknamed the Nuclear Anschluss ;)

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