Duke to Buy Cinergy for Nearly $9 Billion

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Duke Energy Corp. said Monday it has agreed to acquire Cinergy Corp. for stock valued at about $9 billion in a deal that will create an energy company with about 5.4 million retail customers and more than $70 billion in assets.


The deal was approved by both companies’ boards. Duke Energy, based in Charlotte, is a diversified energy company with natural gas and electric businesses as well as a real estate portfolio. Cinergy, based in Cincinnati, operates Cincinnati Gas & Electric Co., Union Light, Heat & Power and PSI Energy.


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