Summary
Duke Energy Corporation (DUK) has filed an 8-K report on April 13, 2012, to provide an update on its proposed merger with Progress Energy, Inc. The key development reported is the receipt of a Request for Additional Information (RAI) from the Federal Energy Regulatory Commission (FERC) concerning the companies' second wholesale market power mitigation plan, which was filed on March 26, 2012. Duke Energy and Progress Energy have responded to the FERC's RAI on April 13, 2012. Despite this regulatory step, the companies are maintaining their target closing date for the merger, which remains July 1, 2012. Investors should monitor any further developments from the FERC and the progress toward completing this significant merger transaction.
Key Highlights
- 1Duke Energy (DUK) and Progress Energy received a Request for Additional Information (RAI) from the FERC on April 10, 2012.
- 2The RAI is related to the second wholesale market power mitigation plan filed on March 26, 2012, as part of the proposed merger.
- 3Duke Energy and Progress Energy submitted their response to the FERC's RAI on April 13, 2012.
- 4The companies are still targeting July 1, 2012, as the intended closing date for the merger.
- 5This filing serves as an update on regulatory progress for the pending merger.