Simpson Thacher Advises PPL In $7.2B E.ON Deal

Law360, New York (April 29, 2010, 1:32 PM EDT) -- PPL Corp. has revealed plans to acquire German power giant E.ON AG's U.S. unit in a $7.2 billion deal aimed at improving the company's business mix by expanding its footprint beyond Pennsylvania, where it owns the state's second-largest utility.

Allentown, Pa.-based PPL said Wednesday it would pay for the transaction with $6.7 billion in cash and the assumption of about $925 million in tax-exempt debt. Taking into account another $450 million in tax benefits, the effective purchase price will be $7.2 billion, the company said....
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