8-K/AExhibits & Filings

FIRSTENERGY CORP 8-K/A Report, Exhibit Filing (Apr 19, 2011)

Filed April 19, 2011For Securities:FE

Summary

This Form 8-K/A filing from FirstEnergy Corp. serves as an amendment to a previous filing, primarily to include crucial financial information related to its acquisition of Allegheny Energy, Inc. The report details the inclusion of Allegheny Energy's historical audited financial statements for the years ending December 31, 2010 and 2009, and the three preceding years. Furthermore, it presents unaudited pro forma condensed combined financial statements and related notes as of and for the year ended December 31, 2010, offering investors a look at the projected financial standing of the combined entity post-merger. This filing is critical for investors seeking to understand the financial implications and scale of the FirstEnergy and Allegheny Energy merger. By providing both historical data of the acquired company and pro forma combined statements, FirstEnergy offers transparency on the financial profile of the newly enlarged enterprise, enabling a more informed assessment of its post-acquisition value and future performance potential. The inclusion of these financial statements and exhibits is a necessary step in fulfilling regulatory requirements following a significant business combination.

Key Highlights

  • 1FirstEnergy Corp. (FE) is filing an amended Form 8-K to incorporate financial statements and pro forma information related to the acquisition of Allegheny Energy, Inc.
  • 2The filing includes the audited historical consolidated financial statements of Allegheny Energy for the years ending December 31, 2010, 2009, and the three years prior.
  • 3Unaudited pro forma condensed combined financial statements for the year ended December 31, 2010, are provided, reflecting the combined entity post-merger.
  • 4This amendment fulfills the financial reporting requirements under Items 9.01(a) and 9.01(b) of Form 8-K.
  • 5Key exhibits include the consent of Deloitte & Touche LLP, Allegheny Energy's audited financial statements, and the pro forma combined financial statements.
  • 6The report acknowledges the significant risks and uncertainties associated with integrating the two companies and potential impacts on future operations and financial performance.
  • 7Forward-looking statements highlight potential challenges, including regulatory impacts, project delays (e.g., PATH project), market price fluctuations, and integration risks.

Frequently Asked Questions

This filing is an amendment to a previous Form 8-K. Its primary purpose is to include the audited historical financial statements of Allegheny Energy, Inc., and unaudited pro forma condensed combined financial statements, which are required following FirstEnergy Corp.'s acquisition of Allegheny Energy.

The filing includes Allegheny Energy's audited consolidated financial statements as of December 31, 2010 and 2009, and for each of the three years ended December 31, 2010. It also includes unaudited pro forma condensed combined financial statements as of and for the year ended December 31, 2010.

Pro forma financial statements present hypothetical financial information as if a specific event, in this case, the merger of FirstEnergy and Allegheny Energy, had occurred at an earlier date. They are important for investors because they provide a clearer picture of the combined company's financial position and performance, allowing for a more informed assessment of the impact of the merger.

While this filing is primarily focused on historical and pro forma financial data, it does contain a section with forward-looking statements. These statements discuss potential risks and uncertainties that could affect the combined company's future results, such as regulatory challenges, project execution, market conditions, and integration complexities. However, it does not provide specific financial guidance or projections.