Duke, Progress plan $13.7B merger deal

Duke, Progress plan $13.7B merger deal
Duke Energy plans to acquire Progress Energy in a $13.7 billion deal. The move would boost the companies' competitiveness in the nuclear sector and cut down on redundancies at a time of lackluster power sales, the companies said. Progress Energy CEO William Johnson would be named CEO, while James Rogers, chairman and CEO of Duke, would become chairman if the deal is completed. The Wall Street Journal

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