SC City Appeals $26B Duke-Progress Merger Approval

Law360, New York (August 30, 2012, 7:54 PM EDT) -- The City of Orangeburg, S.C., on Wednesday notified the North Carolina Utilities Commission that it planned to appeal the agency's June 29 approval of the $26 billion merger of Duke Energy Corp. and Progress Energy Inc., saying it had overstepped its authority.

The commission erred in finding that the parameters of the merger — which would create the country's largest energy company — were acceptable by regulatory standards, and in preventing Orangeburg from challenging the regulatory conditions on the grounds that it had no standing, according...
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