The article below was first published on The Am Law Daily.
In early January, the president and CEO of FirstEnergy, the nation’s fifth-largest electric power company, struck a handshake deal with the CEO of a smaller rival, Allegheny Energy. FirstEnergy planned to acquire Allegheny for $4.7 billion, creating one of the nation’s largest power companies, with some 6 million customers across seven states. The potential for money-saving synergies was obvious to both companies.
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