Duke Energy will spend $13.7 billion to acquire Progress Energy, creating the nation’s largest utility, serving 7.1 million customers in six states.
Progress Energy shareholders will receive 2.61 shares of common stock of Duke Energy in exchange for each share of Progress Energy in the stock-for-stock transaction. This values Progress Energy at $46.48 per share, a 7.1 percent premium to the stock’s closing price on Jan. 5, 2011.
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