$26B Duke, Progress Merger Approved By NC Regulators

Law360, New York (June 29, 2012, 5:43 PM EDT) -- The North Carolina Utilities Commission on Friday approved the $26 billion merger of Duke Energy Corp. and Progress Energy Inc. that would create the country's largest energy company, clearing the way for the companies to finalize the transaction as early as Monday afternoon.

The energy giants still need to gain approval of its joint dispatch agreement from the South Carolina Utilities Commission before the merger becomes official, but Progress spokesman Mike Hughes said the companies are meeting with regulators on Monday morning and hope to close...
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