Burr, Michael T.
January 2006
Investment Dealers' Digest;1/9/2006, Vol. 72 Issue 1, p30
Trade Publication
The article forecasts merger trends among small and midsize utilities in the U.S. Analysts predicts a wave of mergers and acquisitions among U.S. electric and gas utilities after the long-awaited Energy Policy Act in the U.S. The new bill eliminated an old enemy of utility mergers, the Public Utility Holding Company Act of 1935. Three huge mergers have been announced in the last 18 months, including FPL Group's $11 billion deal to acquire Baltimore-based Constellation Energy. For 2006, market forces are gathering small and midsize utilities into a corner, from which the best escape may be mergers. However, state regulatory agencies have blocked several important deals, primarily by insisting that utility customers get the lion's share of merger benefits. INSET: A Side Entrance for Private Equity..


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