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Duke-Progress Merger Creates Nation’s Largest Utility Company

HeadlineJan 11, 2011

In business news, Duke Energy has acquired Progress Energy in a nearly $14 billion deal, creating the nation’s largest utility company. The joint company will also become the third largest provider of nuclear power in the country. Analysts say the merger may help Duke expand its nuclear capacity in an attempt to build new reactors. Jim Warren of the North Carolina Waste Awareness and Reduction Network said, “Duke’s purchase of Progress is being seen largely as an effort to power up financially to build nuclear plants.”

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