Duke, Progress Strike Deal With SC Officials Over Merger

Law360, New York (September 6, 2011, 3:03 PM EDT) -- South Carolina regulators reached a deal Tuesday with Duke Energy Corp. and Progress Energy Inc. that puts the companies a step closer to completing their proposed $26 billion merger, on the heels of a similar decision in North Carolina.

Duke Energy announced in January that it would give Progress Energy shareholders $13.7 billion in equity value as part of the merger. The deal is still subject to approval by public utility regulators in North and South Carolina.

The settlement with the South Carolina Office of Regulatory...
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