make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Duke-Progress agree to new July merger deadline

READ MORE:

RALEIGH, NC (AP) -- Progress Energy and Duke Energy have set July as their new deadline for completing their merger creating the country's largest electric utility.

The companies said in a filing with the Securities and Exchange Commission that they agreed last week to forgo a termination date in the merger agreement until July. A Duke Energy spokesman did not immediately respond to messages seeking comment Tuesday.

The companies had pressed all of last year to complete their deal by the end of 2011. That target was upset when the Federal Energy Regulatory Commission said the companies haven't done enough to protect competition in their North Carolina and South Carolina home markets.

Duke and Progress said last month that revising their deal to satisfy federal regulators would take until March at the earliest.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.