TITLE

Duke and Cinergy Sput Utility M&A

AUTHOR(S)
Terzo, Gerelyn
PUB. DATE
January 2006
SOURCE
Investment Dealers' Digest;1/16/2006, Vol. 72 Issue 2, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on Duke Energy's merger with Cinergy Corp. in 2005 in the U.S. After five difficult years in the wake of the California energy crisis and Enron's demise, things have finally begun looking up for utilities. The deal, which was for $14.1 billion including debt, is seen as a signal of better times to come, helping kick off what is expected to be a long-lasting wave of consolidation in the energy sector as companies look to grow and build new generation capacity. Cinergy had been looking for five or six years to grow its power business and held discussions with several potential partners over that period. Early discussions involved a possible joint venture or Cinergy buying Duke's midwestern power generation and trading businesses.
ACCESSION #
19512068

 

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