Duke Energy, Piedmont Natural Gas File for Acquisition Approval

 Duke Energy, Piedmont Natural Gas File for Acquisition Approval

Duke Energy (NYSE: DUK) on Friday filed application with the North Carolina Utilities Commission seeking regulatory approval for its acquisition of Piedmont Natural Gas. The companies also filed with the Tennessee Regulatory Authority for approval of a change in control of Piedmont that will result from the acquisition.
 
Duke announced plans to acquire Piedmont in October 2015 and presented information regarding the acquisition to the Public Service Commission of South Carolina Jan. 13.
 
The transaction requires approval by Piedmont shareholders, who will vote on the issue Jan. 22. The Federal Trade Commission has granted early termination of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
 
Both companies expect the deal to close by year’s end.



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